Builder confidence is on the rise and permits for new construction edged up as record-low interest rates continue to lure buyers into the real estate market.
© Provided by Money.com Mortgage-Rate-July-17-2020
According to data from the National Association of Home Builder/Wells Fargo Housing Market Index, home builder sentiment reached pre-pandemic levels for the month of July. The index, which tracks builder confidence in the newly-built single-family home market, rose 14 points to 72, a reading last seen in March before the pandemic related lockdowns began. Any reading above 50 on the index indicates that home builders view current home sales, sales expectations and prospective buyer traffic for the next six months as “good.”
“Builders are seeing strong traffic and lots of
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