{"id":7362,"date":"2020-09-23T10:00:33","date_gmt":"2020-09-23T10:00:33","guid":{"rendered":"https:\/\/thezakariagroup.com\/home-builder-confidence-hits-all-time-record\/"},"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:\/\/thezakariagroup.com\/home-builder-confidence-hits-all-time-record\/","title":{"rendered":"Home Builder Confidence Hits All-Time Record"},"content":{"rendered":"<div>\n<p><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\"><\/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:\/\/files.simplifyingthemarket.com\/wp-content\/uploads\/2020\/09\/22104046\/20200923-MEM-Eng-1.jpg\"><img fetchpriority=\"high\" decoding=\"async\" class=\"aligncenter wp-image-43064\" src=\"https:\/\/files.simplifyingthemarket.com\/wp-content\/uploads\/2020\/09\/22104046\/20200923-MEM-Eng-1.jpg\" alt=\"Home Builder Confidence Hits All-Time Record | Simplifying The Market\" width=\"650\" height=\"488\" srcset=\"https:\/\/files.simplifyingthemarket.com\/wp-content\/uploads\/2020\/09\/22104046\/20200923-MEM-Eng-1.jpg 1000w, https:\/\/files.simplifyingthemarket.com\/wp-content\/uploads\/2020\/09\/22104046\/20200923-MEM-Eng-1-400x300.jpg 400w\" sizes=\"(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<\/div>\n<p class=\"wpematico_credit\"><small>Powered by <a href=\"http:\/\/www.wpematico.com\" target=\"_blank\" rel=\"noopener noreferrer\">WPeMatico<\/a><\/small><\/p>\n","protected":false},"excerpt":{"rendered":"<p>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;]<\/p>\n","protected":false},"author":101010,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[100,102,101,873],"tags":[],"jetpack_publicize_connections":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.8.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Home Builder Confidence Hits All-Time Record - The Zakaria Group<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/thezakariagroup.com\/home-builder-confidence-hits-all-time-record\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Home Builder Confidence Hits All-Time Record - The Zakaria Group\" \/>\n<meta property=\"og:description\" content=\"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. 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