Builders' Confidence Continue to Rise, Dow up 235!
May 18th, 2009 | 
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Builder confidence rose for a second consecutive month in May to the highest level since September of 2008, according to the National Association of Home Builders (NAHB). THis monthly survey has been used for the past 20 years. It indicates that home builders feel we’re at or near the bottom of the market and that positive signs lie ahead for builders and potential home buyers.
“Builders are responding to what they perceive to be some of the best home buying conditions of a lifetime,” said NAHB Chairman Joe Robson. “You’re not likely to get a better deal in terms of mortgage rates than what’s available right now. Combine that with the affordable prices, multitude of home choices and $8,000 tax credit for first-time buyers that are now available, and you have a very appealing set of reasons to make a move.”
The Dow climbed 235 points based on this and on home improvement retailer’s upbeat outlook and a Bank of America’s stock upgrade.
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Posted in Buyer Resources | 
Tags: builder confidence, housing market, NAHB, Philadelphia Real Estate
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