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Homebuilders more positive about USA property market

Date : (News Section: United States)

Homebuilders more positive about USA property market
American homebuilders are confident that property in the USA is set to gain further traction in the coming months as it enters into a period of recovery, despite continued concerns over credit conditions.

The latest National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index has jumped to a level of 40, marking the fifth month in which it has moved in a positive direction.

It is at the highest point it has reached since June 2006, prompting suggestions that the housing market could be set to reach peak conditions.
The S&P/Case-Shiller Home Price Indices also recently showed house prices rose by almost seven per cent in the second quarter compared with the first three months of 2012.

However, NAHB chairman Barry Rutenberg warned that several factors are still holding the industry back from a total recovery.

"In particular, unnecessarily tight credit conditions are preventing many builders from putting crews back to work - which would create needed jobs - and discouraging consumers from pursuing a new-home purchase," he explained.

Article by +Danny Bance on behalf of

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