Great news: Home builder confidence soaring south of the border
This is good news for Canadian homebuilders and renovators because the widespread American news about home buyer intentions - and renovation intentions - affects the mentality of our own customers north of the border. We don't need, as Canadians, to continue to see devastating stories of Americans walking away from their mortgages. It does impact our market, even if we didn't suffer the housing crashes that they did.
By Steve Payne
The American-based National Association of Homebuilders (NAHB) has reported that “home builder confidence is at its highest level in nearly eight years.”
The NAHB is reporting a much stronger housing market south of our border – with a high demand for new homes.
Stores like this are important for Canadian renovators and Canadian homebuilders. We don’t need, as Canadians, to continue to see devastating stories of Americans walking away from their mortgages. It does impact our market, even if we didn’t suffer the housing crashes that they did.
The NAHB has an interesting “Buiders’ Confidence Index” that measures homebuilders’ state-of-mind on business conditions. In its report, the NAHB says that index has risen from 59 to 62.
That may not sound high, it’s worth noting that readings above 50 means that most builders surveyed view housing conditions as “positive.”
To read the full story from Today’s Market News (a real estate newsletter) click here.