Morning Minute: Homebuilder confidence sees biggest jump in nearly a decade

Homebuilder confidence climbed 6 points in July, marking the biggest jump since September 2002, according to today’s National Association of Home Builders/Wells Fargo Housing Market Index, Bloomberg reports. Said Barry Rutenberg, chairman of the National Association of Home Builders (NAHB):

“Builder confidence increased by solid margins in every region of the country in July as views of current sales conditions, prospects for future sales and traffic of prospective buyers all improved. This is greater evidence that the housing market has turned the corner as more buyers perceive the benefits of purchasing a newly built home while interest rates and prices are so favorable.”

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About Stephanie Sievers

Stephanie Sievers is Associate Editor for the Illinois Association of REALTORS®. She serves as Associate Editor for IAR publications including the Illinois REALTOR® magazine and all other IAR publications. She is responsible for developing content for the Illinois REALTOR® Weekly Connection e-newsletter, coordinates the IAR Twitter account content at ILREALTOR and plans and develops content for videos. She assists in developing and writing content for the IAR blog. She also is involved in researching and drafting news releases and coordinates the news media distribution database and newsclips reports for the Association. She also assists in IAR spokesperson training seminars and is involved in development of association briefing materials on issues. She assists with the housing statistics program and reports.