According to the latest National Association of Home Builders/Wells Fargo Housing Market Index, builder confidence for newly-built single-family housing climbed 21 points to 58 in June. This is a positive sign that might indicate housing will lead to an economic recovery, as any reading above 50 represents a positive market.
As the nation reopens, housing is well-positioned to lead the economy forward. Inventory is tight, mortgage applications are increasing, interest rates are low and confidence is rising. And buyer traffic more than doubled in one month even as builders report growing online and phone inquiries stemming from the outbreak.
The gaining momentum is a positive sign for opportunities in the single-family market.