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Builder Confidence Crushes Expectations

Tuesday, June 16, 2020

The COVID-19 outbreak struck a major blow to builder confidence in April. The prospect of widespread shutdowns of businesses and prolonged shelter at home orders sent the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) spiraling down 42 points, its largest monthly change in a more than 30 year history, to a reading of 30. The index, a measure of home builder confidence in the market for new homes, recovered slightly in May, rising 7 points. This morning NAHB said, in a sign that housing stands poised to lead a post-pandemic economic recovery, its index soared 21 points to 58, now only 14 points below where it finished in March. Any reading above 50 indicates a positive market.

 

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We appreciated how much Sara was willing to meet with us either on the phone or in person. She was a knowledgeable and caring person to help us without first home mortgage loan. Even though I had a million questions she actively listened and explained her answer. She is a magnificent person and I would love to share with family and friends our great experience with her. I definitely gave her a hug before we left the lawyers office signing for our house and thanked her for keeping this mortgage process smooth.
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