Builder Confidence at an 8-Month High

A report issued by the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) today puts builder confidence at its highest point since June 2006, with the index rising from 35 in January to 40 in February.

Although builders are still cautious and are watching their inventories carefully, "The HMI results are consistent with Federal Reserve Chairman Ben Bernanke’s assessment to Congress this week that there are signs of stabilization on the demand side of the housing market," according to NAHB Chief Economist David Seiders. Sieders went on to say that the recent downslide in homes sales is "now in their rear view mirrors".

This is great news for Santa Clarita builders, with many new home developments opening their doors this year.