Mortgage FAQ: What is Homebuilder Confidence?
"I’VE HEARD COMMENTATORS ON TV TALKING ABOUT ‘HOMEBUILDER CONFIDENCE’ RECENTLY. WHAT IS HOMEBUILDER CONFIDENCE AND WHY WOULD IT BE IMPORTANT?"
“Homebuilder confidence” is a statistic from a monthly survey about current economic and housing conditions. More specifically, the survey results—conducted through a poll of the members of the National Association of Homebuilders—are compiled into a report called the Housing Market Index (also known as the “Homebuilder Confidence Survey”) which reflects builder sentiment for single-family, new construction housing.
Homebuilder confidence is expressed as a number in which 50 is the mean and above or below 50 indicates a positive or negative outlook. Although homebuilder confidence may seem subjective, it has been proven to be a leading edge indicator of the overall health of the housing market. Currently, homebuilder confidence for August is at a 7-month high of 55, which indicates growing improvement in the housing market. Keep in mind, however, that the Homebuilder Confidence Survey is a national figure and may not reflect conditions in your area. For housing information in your specific market, talk to your real estate agent and mortgage professional.
For more than 25 years, Omega Financial has been serving mortgage clients in Massachusetts. Our brokers have approximately 50 years in the mortgage business. You always will receive fast, courteous, and accurate information. Omega Financial, Inc. is a company duly licensed to operate in Massachusetts as a Mortgage Brokerage. We are located in the Town of Norwood, Massachusetts where we have been operating as Omega Financial Incorporated since 1988. Licensed by the Commissioner of Banks - License No. MB2671
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