Dec
25

Builder Confidence Increases in December

December 25, 2012

chicago real estate builders

Homebuilders can spread holiday cheer over the fact that confidence in the single family home market has risen for the eighth consecutive month! According to the National Association of Home Builders, the current builder confidence index is 47, which is the highest level since April 2006.

“Builders across the country are reporting some of the best sales conditions they’ve seen in more than five years,” said Barry Rutenberg, chairman of the NAHB. “More serious buyers are coming forward and there are a shrinking number of vacant and foreclosed properties on the market.”

The main factor preventing sales from increasing even further is that many homeowners are still having difficulty obtaining a mortgage. Rates are at an all-time low of less than 4 percent, however banks are being fairly strict with their lending standards. In spite of these tougher policies, David Crowe, the NAHB Chief Economist, said the steady rate of builder confidence is expected to continue in 2013, and that some metro areas may even experience shortages in home supplies.

Many Chicago area builders are preparing for a busy 2013! DeMarco Custom Homes recently broke ground on a new Kane County home featuring a spacious floor plan with four bedrooms and four bathrooms, and the Charleton Highlands community in Orland Park is preparing a series of single family homes for spring 2013.

About The Author

Read All Stories By Mitch Levinson

Mitch Levinson is the author of “Internet Marketing: The Key to Increased New Home Sales” published by BuilderBooks. He is an Internet marketing expert with expertise in search engine optimization, website development, email marketing, social media and CRM consulting services. He is known for creating effective programs that can be tracked through analytics to prove effectiveness and ROI. Mitch is founder and president of MLC New Home Marketing and MLC FlatFee Realty, as well as managing partner of mRELEVANCE, LLC, a Marketing, Communication, Interactive agency with offices in Chicago and Atlanta. He currently leads the Chicago team. A Multi-Million Dollar Sales Producer who earned an MBA in Computer Information Systems and eCommerce, he brings a unique perspective and experience to the field of real estate communications. Mitch combines the two interests in order to help home builders and developers gain a competitive advantage through the Internet and technology. When he isn’t behind a computer, he enjoys participating in sports and coaching his kids’ teams. Mitch resides in Arlington Heights, Ill., a northwest suburb of Chicago, with his family, which includes two rambunctious labs. Visit my Google+ profile.

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