Thanks to rising rent rates, an upswing in jobs, and mortgage rates that are still low, custom home builders in GA are anticipating the spring housing market to be the strongest in 11 years. In fact, market confidence is the highest it has been since 2005 with a National Association of Home Builders' Housing Market Index (HMI) of 65 out of 100. Compare that to an index of just 8 in January of 2009 and you'll see why spring is looking to be a blockbuster season for the market.
Once a month, the National Association of Home Builders (NAHB) surveys its members on the condition of the current housing market as well as their predictions for the future of the housing market. The results are then compiled into the Housing Market Index (HMI).
The numerical value of the index essentially reflects the attitudes of home builders in relation to the nation's single-family, new construction housing market. Home builders use real-time data accrued through their day-to-day business when offering their survey responses. Such factors that drive their responses include the amount of foot traffic and actual sales performed during the month. Because the data comes from those “on the ground,” the HMI is able to recognize real estate trends long before economists do.
Another reason why the HMI is important is because it uses three key questions to gauge the health of the market. These questions pertain to the following:
In terms of home sales activity for the next six months, the most recent HMI has a reading of 73. This is nine points higher than the same time last year, and since last spring was stellar for custom home builders in GA, this year looks to be even better. In fact, the numbers are so good, the market's positive growth is looking to extend well into summer and even fall. As a result, this year's housing market is looking to be the strongest in more than a decade.
The market is expected to be especially kind to custom home builders, with early expectations coming in at 500,000 new homes to be sold this year and even more in 2018. For this reason, if you're thinking about having a home custom built, the earlier you start, the better off you'll be.
Southland Custom Homes is one of the top-rated on-your-land home builders in GA. We have a professional in-house team of architects and designers who can help you create the ideal home for you and your family. And, our experienced builders will bring it to life on time and at a cost that fits within your budget. This is a great time to be a home buyer, so don't wait - call Southland today!
Call Southland's custom home builders GA today at 866-56-BUILD to get started. Or, visit one of our model showrooms today in Macon (3956 Bloomfield Village Drive, Macon, GA 31206), Dawsonville (98 Bethel Drive, Dawsonville, GA 30534), Marietta (265 N. Cobb PKWY, Marietta, GA 30062) or Winder (429 Loganville Hwy.,Suite 101, Winder, GA 30680) to see all that we have to offer!
Southland Custom Homes builds in the following locations: