Myrtle Beach New Home Sales Experiencing the Upward Trend

Lake Shot Phase 1Myrtle Beach’s Cipriana Park in the Grande Dunes’ exclusive new home builder, Traditional Home Builders, as well as many Myrtle Beach real estate brokers are experiencing the best growth rate in since April 2006.

That is when the bubble burst and sales plummeted leaving many construction sites abandoned.

But according to a new The National Association of Home Builders/Wells Fargo report –

 - Builder confidence in the market for newly built, single-family homes rose for an eighth consecutive month in December to a level of 47 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI), released today. This marked a two-point gain from a slightly revised November reading, and the highest level the index has attained since April of 2006.

“Builders across the country are reporting some of the best sales conditions they’ve seen in more than five years, with more serious buyers coming forward and a shrinking number of vacant and foreclosed properties on the market,” observed NAHB Chairman Barry Rutenberg, a home builder from Gainesville, Fla. “However, one thing that is still holding back potential home sales is the difficulty that many families are encountering in getting qualified for a mortgage due to today’s overly stringent lending standards.”

“While there is still much room for improvement, the consistent upward trend in builder confidence over the past year is indicative of the gradual recovery that has been taking place in housing markets nationwide and that we expect to continue in 2013,” noted NAHB Chief Economist David Crowe.

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Source: NAHB