New-Home Market Shows Steady Improvement

More good news arrived this week for the Clovis housing recovery: Permits for future construction soared 5.1%, reaching its highest level in more than 3 years. 

Why More New Construction is Good News

An increase in new construction and building is a welcome sign for the building industry, which last year suffered one of its worst years on record.  That appears to be changing.  Permits for single-family homes increased to nearly 5%, the highest since April 2010, according to the Commerce Department.  Residential construction is up a whopping 34.7% from a year ago.

Builder confidence has also picked up in recent months and held steady, holding at near a five-year high in March, according to an index by the National Association of Home Builders/Wells Fargo.

“While builders are still very cautious at this time, there is a sense that many local housing markets have started to move in the right direction and that prospects for future sales are improving,” says Barry Rutenberg, chairman of the National Association of Home Builders.

Next time you’re out driving around, take a look at the new home construction home sites around Clovis and you’ll see why things appear to be looking up in 2012 for the Clovis housing market.

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This entry was posted on Saturday, March 24th, 2012 at 7:27 AM and is filed under Clovis Real Estate News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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