CM Sales Opportunities Abound as Builder Confidence Soars
Builders appear to think the post-COVID-19 recovery in the housing market will happen quickly, which suggests CMs could have a very busy few months ahead of them.
Single-family builder confidence jumped 21 points to 58 in June (a reading over 50 is positive), in the National Association of Home Builders/Wells Fargo Housing Market Index (HMI).
According to NAHB, this can be attributed to the fact that, “inventory is tight, mortgage applications are increasing, [and] interest rates are low. And buyer traffic more than doubled in one month even as builders report growing online and phone inquiries stemming from the outbreak.”
It’s noteworthy that all the HMI indices increased in June. The HMI index gauging current sales conditions jumped 21 points to 63, sales expectations in the next six months surged 22 points to 68 and traffic of prospective buyers vaulted 22 points to 43.