In another good sign for the housing market, today’s home builders believe that the housing market has turned a corner. Homebuilder confidence is at a 19-month high.
The National Association of Home Builders reports a Q2 2011 Home Opportunity Index reading of 72.6. Nearly 3 of 4 homes sold last quarter were affordable to households earning the national median income of $64,200.
Two months after posting their worst confidence reading of 2011, home builders say they foresee no improvement in the immediate- or medium-term market for new homes nationwide.