Are Baton Rouge New Home Builders Confident In 2013 Housing Recovery?
There’s a new study out that says U.S. Home Builders confidence is building for this national housing recovery. Some commentary on this study is below.
NOTE: I would add that if mortgage rates climb higher than current 4.5%, then it certainly could derail new home sales.
http://feedproxy.google.comTuesday, July 16, 2013 7:18:43 PM
“The new home market is showing encouraging signs and boosting the confidence of home builders in the market to levels we haven’t seen in over 7 years, according to the latest survey from the National Association of Home Builders and Wells Fargo.
Highlights from the survey:
- This survey shows an improvement in builder confidence across every region
- Builders reported solid gains in current sales conditions, traffic of prospective buyers and sales expectations for the next six months
There was a word of caution in the report, coming from NAHB Chairman Rick Judson, a home builder from Charlotte, N.C. However, who cautioned that “This positive momentum could be disrupted by threats on the policy side, particularly with regard to the mortgage interest deduction and federal support for the housing finance system.””
The question remains, Are Greater Baton Rouge Home Builders Confident In 2013 Housing Recovery?
From this chart below, I would say they are confident in this recovery.
East Baton Rouge Parish New Home Sales increased by 117 from 233 to 350 or +50%
Ascension Parish New Home Sales increased by 29 from 257 to 286 or +11%
Livingston Parish New Home Sales increased by 12 from 158 to 170 or +8%
NOTE: Based on information from the Greater Baton Rouge Association of\MLS for the period of 01/01/2012 to 07/10/2012 and 01/01/2013 to 07/10/2013, giving time for end of June sales to be reported. This information was extracted on 07/16/2013. This includes New and Proposed DSF (Detached Single Family) and ASF (Attached Single Family) solds.