{"id":6268,"date":"2020-09-23T10:00:33","date_gmt":"2020-09-23T10:00:33","guid":{"rendered":"https:\/\/blog.sfloridaluxuryhomes.com\/?p=6268"},"modified":"2020-09-23T10:00:33","modified_gmt":"2020-09-23T10:00:33","slug":"home-builder-confidence-hits-all-time-record","status":"publish","type":"post","link":"https:\/\/blog.sfloridaluxuryhomes.com\/?p=6268","title":{"rendered":"Home Builder Confidence Hits All-Time Record"},"content":{"rendered":"<div>\n<p><img decoding=\"async\" width=\"358\" src=\"https:\/\/blog.sfloridaluxuryhomes.com\/wp-content\/uploads\/2020\/09\/20200923-KCM-Share-549x300-1.jpg\" class=\"webfeedsFeaturedVisual wp-post-image\" alt=\"Home Builder Confidence Hits All-Time Record | Simplifying The Market\" style=\"display: block; margin-bottom: 5px; clear:both;max-width: 100%;\" link_thumbnail=\"\" srcset=\"https:\/\/blog.sfloridaluxuryhomes.com\/wp-content\/uploads\/2020\/09\/20200923-KCM-Share-549x300-1.jpg 549w, https:\/\/files.simplifyingthemarket.com\/wp-content\/uploads\/2020\/09\/22104043\/20200923-KCM-Share.jpg 750w\" sizes=\"(max-width: 549px) 100vw, 549px\"><\/p>\n<p>Last week, the <em>National Association of Home Builders<\/em> (NAHB) reported their <a href=\"https:\/\/www.nahb.org\/news-and-economics\/industry-news\/Press-Releases\/2020\/09\/Builder-Confidence-Soars-to-an-All-Time-High-Lumber-Risks-Remain\">Housing Market Index<\/a> (HMI) hit an <strong>all-time high<\/strong> in the 35-year history of the series with a score of 83. The index gauges builder perceptions of current single-family home sales and sale expectations for the next six months, as well as the traffic of prospective buyers of new homes.<span id=\"more-43062\"><\/span><\/p>\n<p>As the following chart shows, confidence dropped dramatically when stay-in-place orders were originally mandated earlier this year. Since then, it has soared back.<a href=\"https:\/\/blog.sfloridaluxuryhomes.com\/wp-content\/uploads\/2020\/09\/20200923-MEM-Eng-1.jpg\" data-rel=\"lightbox-image-0\" data-rl_title=\"\" data-rl_caption=\"\" title=\"\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-43064\" src=\"https:\/\/blog.sfloridaluxuryhomes.com\/wp-content\/uploads\/2020\/09\/20200923-MEM-Eng-1.jpg\" alt=\"Home Builder Confidence Hits All-Time Record | Simplifying The Market\" width=\"650\" height=\"488\" srcset=\"https:\/\/blog.sfloridaluxuryhomes.com\/wp-content\/uploads\/2020\/09\/20200923-MEM-Eng-1.jpg 1000w, https:\/\/files.simplifyingthemarket.com\/wp-content\/uploads\/2020\/09\/22104046\/20200923-MEM-Eng-1-400x300.jpg 400w\" sizes=\"auto, (max-width: 650px) 100vw, 650px\"><\/a>Looking at the three-month moving averages for HMI scores, confidence increased in every region of the country:<\/p>\n<ul>\n<li>The Northeast increased 11 points to 76<\/li>\n<li>The Midwest jumped 9 points to 72<\/li>\n<li>The South rose 8 points to 79<\/li>\n<li>The West increased 7 points to 85<\/li>\n<\/ul>\n<h4><strong>Confidence Is Validated by the Numbers<\/strong><\/h4>\n<p>This confidence is definitely warranted. According to a recent NAHB <a href=\"http:\/\/nahbnow.com\/2020\/09\/single-family-housing-continues-growth-in-august\/\">report<\/a>, single-family housing starts increased 4.1% to a 1.02 million annual rate, and single-family permits increased 6% to a 1.04 million unit rate, meaning newly constructed homes are on the rise.<\/p>\n<p>A separate <a href=\"https:\/\/www.mba.org\/2020-press-releases\/september\/august-new-home-purchase-mortgage-applications-increased-333-percent\">report<\/a> from the <em>Mortgage Bankers Association<\/em> (MBA) shows mortgage applications for new home purchases increased by 33.3% compared to a year ago. Joel Kan, <em>Associate Vice President of Economic and Industry Forecasting<\/em> at MBA, commented on the numbers:<\/p>\n<blockquote>\n<p><em>&ldquo;The housing market continued to exceed expectations in August, as housing demand for new homes stayed strong and the job market continued to recover&hellip;The new home market has maintained its path of recovery throughout the summer, and record-low mortgage rates and households seeking more space will likely continue to drive demand into the fall.&rdquo;<\/em><\/p>\n<\/blockquote>\n<h3><strong>Bottom Line<\/strong><\/h3>\n<p>If you&rsquo;re thinking about putting your house on the market but are afraid you may not find a home to buy, let&rsquo;s connect to discuss new construction opportunities in our area.<\/p>\n<p>Content previously posted on Keeping Current Matters<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<div><img decoding=\"async\" width=\"358\" src=\"https:\/\/files.simplifyingthemarket.com\/wp-content\/uploads\/2020\/09\/22104043\/20200923-KCM-Share-549x300.jpg\" class=\"webfeedsFeaturedVisual wp-post-image\" alt=\"Home Builder Confidence Hits All-Time Record | Simplifying The Market\" style=\"display: block; margin-bottom: 5px; clear:both;max-width: 100%;\" link_thumbnail=\"\" srcset=\"https:\/\/files.simplifyingthemarket.com\/wp-content\/uploads\/2020\/09\/22104043\/20200923-KCM-Share-549x300.jpg 549w, https:\/\/files.simplifyingthemarket.com\/wp-content\/uploads\/2020\/09\/22104043\/20200923-KCM-Share.jpg 750w\" sizes=\"(max-width: 549px) 100vw, 549px\">Last week, the National Association of Home Builders (NAHB) reported their Housing Market Index (HMI) hit an all-time high in the 35-year history of the series with a score of 83. The index gauges builder perceptions of current single-family home sales and sale expectations for the next six months, as well as the traffic of [&hellip;]<\/div>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"bgseo_title":"","bgseo_description":"","bgseo_robots_index":"","bgseo_robots_follow":"","footnotes":""},"categories":[3,85,86,89,122],"tags":[],"class_list":["post-6268","post","type-post","status-publish","format-standard","hentry","category-blog","category-for-sellers","category-housing-market-updates","category-move-up-buyers","category-new-construction"],"_links":{"self":[{"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=\/wp\/v2\/posts\/6268","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=6268"}],"version-history":[{"count":0,"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=\/wp\/v2\/posts\/6268\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6268"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6268"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6268"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}