Buyer Foot Traffic Through New Construction Up Nearly Threefold Since 2009

 

Home builder confidence in the newly-built, single-family housing market remains high.

In March, for the second consecutive month, the National Association of Homebuilders reports the Housing Market Index at 28 — a doubling of the reading from just 6 months ago and, along with last month, the highest HMI value since June 2007.

When home builder confidence reads 50 or better, it reflects favorable builder conditions in the single-family, new home market. Readings below 50 suggest unfavorable builder conditions.

The HMI itself is a composite reading. It’s the result of three separate surveys sent to home builders by the trade association. The NAHB asks builders to report on their current single-family home sales volume; their projected single-family home sales volume for the next 6 months; and, their current buyer “foot traffic”.

Approximately 400 surveys are returned each month. The results are compiled into the NAHB Housing Market Index.

In March, home builders provided mixed replies to the survey questions :

  • Current Single-Family Sales : 29 (-1 from February)
  • Projected Single-Family Sales : 36 (+2 from February)
  • Buyer Foot Traffic : 22 (Unchanged from February)

It’s noteworthy, despite slowing sales in March, that home builders expect a surge in new home sales over the next 6 months. The reasons for this are several and should be of interest to today’s home buyers.

First, the jobs market is heating up. The U.S. economy has added more than 1 net new million jobs over the last 6 months and that is increasing the pool of potential home buyers in GA and nationwide.

Second, the housing market, in general, is improving. Home sales are brisk in many U.S. markets and home supplies are dropping. This creates pressure on home prices to rise.

And, third, low mortgage rates have helped pushed home affordability to all-time highs. More home buyers earning the national median income can afford a median-priced home than at any time in history.

It’s all culminated in a monthly Buyer Foot Traffic reading which, at 22, is nearly triple the foot traffic reading from just three years ago. Home buyers — in Canton and everywhere else — are out in full-force, capitalizing on today’s buyer-friendly market.

If you’re looking to buy new construction in the second half of 2012, consider moving up your time frame. Market conditions are constantly changing, and may move out of your favor. As builder optimism increases, the price you pay for your new home may increase, too.

Do us a favor if you or someone you know is about to buy that perfect home, please recommend us to them. When you find your dream home, make sure that you get a thorough home inspection in Atlanta, GA from the home inspector Atlanta, GA, David Lelak of IHI Home Inspections, they serve Atlanta and all of North Georgia. Call us today at 404-788-2581 for a thorough home inspection in Atlanta. We won’t let you buy the money pit.  You can also schedule your Atlanta home inspection today online.  We create Peace of Mind One Atlanta home inspection at a time.  Be sure to check out all the other reasons other customers chose IHI Home Inspections at our original website. 

What Other Task Can You Think of That Takes Less Than Five Minutes?

Keep a clean air filter

Clean air in your home is important because it promotes better health.  Nobody wants to be coughing and sneezing – especially if it is preventable by simply replacing your home’s air filters! How long has it been since you changed the air filters in your home?

The Atlanta Home Inspection team suggests that you set up a schedule for replacing your air filters.  By setting   a schedule that coincides with other home maintenance you are more likely to remember the task.  By replacing them at least once every three months, you will benefit. If you have pets or your home is in a dusty region then a monthly filter change might be more beneficial.

Trapping and removing dust particles from the air you are breathing and replacing it with clean air circulation is the job of an air filter. Changing air filters is among the easier do-it-yourself chores. What other task can you think of that takes less than five minutes?  The secondary benefit of doing it is that new filters help keep your HVAC unit in tip-top shape.

Here’s how to change your home’s air filter :

  1. Open the air filter compartment door/slider on your HVAC unit.
  2. Note the size of your current filter. It’s typically written on the frame.
  3. Note the direction in which the filter is pointing. There may be an arrow on its frame.
  4. Purchase a new filter at a hardware store. Make sure the sizes matches the size from Step 2.
  5. Remove the old filter.
  6. Replace old filter with the newly purchased one from Step 4. Make sure the arrow is pointing in the same direction as the original filter’s arrow.
  7. Using a marker, note the date of filter change on the side of the filter.
  8. Close the air filter compartment door/slider.

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When you find a filter type and style that you like, consider buying them in bulk — it can be helpful to have extra air filters laying around the home for when you need them — especially during season changes when you may want to replace filters more frequently.

In addition, when purchasing air filters, don’t opt for the cheapest available. Often, the least expensive filters allow large particles to recirculate through the HVAC unit, and back in to your home. Choose a middle- or top-line product instead.

Your home and your health will thank you.

Do us a favor if you or someone you know is about to buy that perfect home, please recommend us to them. When you find your dream home, make sure that you get a thorough home inspection in Atlanta, GA from the home inspector Atlanta, GA, David & Bonnie Lelak of IHI Home Inspections, they serve Atlanta and all of North Georgia. Call us today at 404-788-2581 for a thorough home inspection in Atlanta. We won’t let you buy the money pit.  You can also schedule your Atlanta home inspection today online.  We create Peace of Mind One Atlanta home inspection at a time.  Be sure to check out all the other reasons other customers chose IHI Home Inspections at our original website.