It is the opinion of every quality home builder in the United States that the market is looking stable ahead especially for this month of July. In fact, they believe it has reached its strongest this month after being in the low level for almost 10 years already. According to a statement by the Association of Home Builders, despite the rise in the rates of mortgages that took effect early this year, there seemed to be great improvement in the housing market.
Based on the data released by Wells Fargo/NAHB, the index of the housing market is now at 60 which hold currently the highest after a decade. The last recorded high was way back in November of 2005. The condition seems to remain at a good level since last month it was recorded to be at an index of 59. According to expert economists that were included in a survey conducted, the predicted index for the month of July was 60.
Once the reading is over 50, it means that the builders believed that the market conditions will improve rather then become worse. The data from the month of June last year 2014 up to now indicates that it has not reached a level below 50 since.
Tom Woods, the chairman of NAHB, expressed his positive outlook in the housing market and believes that the condition will continue to gain its footing again as the second half of the year is starting.
The sales for the single family homes have increased considerable last June and gained seven points while this month it has gained another point which stands at 66. The level for the expected sales of the single family properties in the second half of the year is said to have increased two points as well which is now at 71.
However, from the previous 44 for the gauge of future buyers, the number went down one point after maintaining the same figure for the last five months. NAHB monitors four regions and all of the home builders are positive about the future of the housing market in the months to come.