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November/December 2004
A
Key to Future Home Prices ? October Builder Confidence
at Highest Level this year.
The National
Association of Home Builders and Wells Fargo Bank Housing
of Market Index (HMI) rose in October to the highest
point this year according to its latest report. The
analyists credited strong buyer demand brought on by
improving economic conditions, low mortgage rates and
strong house price performance for a 5 point jump in
October.
The home builders are asked to rate current sales of
single family homes and prospects for sales activity
in the next six months, as “Good”, “Fair” or “Poor”.
Most builders view sales as “Good”! Each of the HMI’s
component indexes rose in October, with the largest
gains registered for current sales activity (up 5 points)
and expected sales (up a remarkable 9 points).
Southern California continues to be a great place to
buy a home for your personal use and investment.
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