| May 18, 2020
The numbers: Confidence among home builders has recovered somewhat after last month’s record-breaking decline even as much of the country remains under stay-at-home orders because of the coronavirus pandemic.
The National Association of Home Builders’ monthly confidence index rose seven points to a reading of 37 in May, the trade group said Wednesday. April’s figure had represented the lowest index reading since June 2012.
“The fact that most states classified housing as an essential business during this crisis helped to keep many residential construction workers on the job, and this is reflected in our latest builder survey,” Dean Mon, the association’s Chairman and a home builder from Shrewsbury, N.J., said in the report.
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Our take:
We are so happy to see builder confidence rising. In Connecticut, residential and commercial construction has been allowed since the beginning of quarantine but that is not the case nationally. As more states open to allow residential construction we are hoping that these builder numbers continue to rise and consequently, more buyers and sellers gain stability and confidence to enter the housing market. It seems like we may have a long road ahead to return to previous numbers but the general upward trend is exciting.