Boston real estate could benefit from increased builder confidence
Homebuyers in the Boston marketplace have slipped into a summer lull. Traditionally, real estate in Boston changes hands much more slowly in the warmer months for a variety of reasons, which can put added stress of home sellers looking to profit on their investments.
However, even with recent signals that the United States economy is slowing, the housing market looks to be on the cusp of something great. Confidence among U.S. homebuilders has reached a five-year high, with many industry professionals predicting new homes to be a key influential factor in boosting the marketplace into high gear.
The National Association of Home Builders/Wells Fargo builder sentiment index jumped six points in July 2012, which is the highest reading since March 2007. In June 2012, the index had a reading of 29, and the metric had only declined once this year.
Homebuyers in the Greater Boston area may see increases in building activity as 2012 progresses, and property sales may become more regular than they have been in previous months. This could also lead to renewed economic strength and increased consumer confidence, both of which would add to the stabilization of the national housing market.