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Builder Confidence Grows As Inventory Lags
Dated: April 20 2023
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The amount of pre-owned homes available for purchase is presently lower than usual, causing dissatisfaction among potential buyers. Consequently, many have turned their attention toward the new home market for supplementary choices. According to the National Association of Home Builders, this trend has benefited home builders and increased their confidence in the market over the past few months. The NAHB's Housing Market Index, which measures the sentiment of home builders regarding the need for newly built homes monthly, has experienced a four-month consecutive surge since April, with an increase of one point from the preceding month, bringing it to 45 on the scale where any score above 50 indicates that conditions are more favorable than unfavorable.
The NAHB's chief economist Robert Dietz notes that new home inventory is abundant, and potential buyers have a strong interest. Dietz stated, "Currently, one-third of housing inventory is new construction, compared to historical norms of slightly more than 10 percent. More buyers looking at new homes and using sales incentives have supported new home sales since the beginning of 2023."
Mike Downer's website, MikeDowner.com, is an extensive online resource for real estate information and services in Southwest Florida. Whether you are searching for the latest sales trends or homes for sale in Collier County and Lee County, Florida, Mike Downer and Coldwell Banker Realty provide comprehensive information and services at your fingertips. Browse the details of new listings, price changes, short sales, foreclosures, new construction, investment property, land sales, or commercial locations throughout Southwest Florida by visiting www.MikeDowner.com or calling Mike at 239-722-6453.
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Your Luxury REALTOR®, Trusted Advisor — Quintessential Naples Team at Downing-Frye Realty®Michael "Mike" Downer is the REALTOR® you want in your corner when buying or selling real es....
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