Survey: Home builders more upbeat - Pittsburgh Business Times:

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“Builders are responding to what they perceive to be some of thebest home-buyin g conditions of a lifetime,” says Joe NAHB chairman. “You’re not likely to get a betteer deal in terms of mortgage ratesthan what’s availabl right now. Combine that with the affordablr prices, multitude of home choices and $8,000p tax credit for first-time buyers that are now and you have a very appealing set of reasonsw to makea move.
” The indexs rose two points to 16 in May, whichj indicates home builders feel “we’re at or near the bottomk of the market and that positives signs lie ahead for builders and potential home buyers, providedr that builder access to production credit significantly NAHB Chief Economist David Crowe The HMI gauges builder perceptions of currentf single-family home sales and sales expectations for the next six monthws as “good,” “fair” or “poor.” It also asks builderws to rate traffic of prospective buyersw as “high to very high,” “average” or “lowq to very low.
” The May index gaugint current sales conditions was up two pointss to 14. The index gauging salexs expectations for the next six months rose thres pointsto 27. The index gauging traffic of prospectivd buyers remained unchangedat 13. the Northeast posted a three-point gain in its HMI to 18.