The National Association of Home Builders/Wells Fargo Housing Market Index has climbed to its highest level since 2005! The confidence index now sits at 61 points, which indicates slow but steady progress and an optimistic outlook among builders across the nation. Additionally, construction on new single-family homes soared 13% from June to July and has now reached the highest level since 2007.
Builders aren’t the only ones benefiting! Spending at Home Depot has jumped to pre-recession levels, and the national home improvement giant has reported a record number of transactions since mid May. Stock is now at all-time highs and up 47% since this time last year.