Because they’re the ones leading the charge on new construction, builders have one of the most accurate views into the health of the housing market.
And, as we move out of the COVID-19 pandemic and related restrictions, builders are extremely confident in the market moving forward.
According to the latest National Association of Home Builders/Wells Fargo Housing Market Index (outlined in a recent CNBC article), builder confidence in the market for newly built single-family homes jumped in June to 58, an increase of 21 points—which not only indicates a positive market (any score over 50 qualifies as a positive market), but is also the largest monthly increase in the index’s history.
“As the nation reopens, housing is well-positioned to lead the economy forward,” said the National Association of Home Builders Chairman Dean Mon, in the CNBC article. “Inventory is tight, mortgage applications are increasing, interest rates are low and confidence is rising....
If you’re considering moving into a smaller home, you may be eager to save money on mortgage payments and utilities. You might also be looking forward to spending less time and effort on interior and exterior home maintenance.
But before you begin packing up your belongings, here are a few things you might want to consider to help you choose the best one for the lifestyle you want.
Just because you’re downsizing, that does not mean you will only be considering a one-floor home. You could be looking at smaller homes with second floors, or lots of stairs.
You may still be in great health and shape, but as you age, steps often become the enemy, as climbing and descending a staircase causes pain in the back and legs. With that in mind, be realistic about the type of floor plan that best suits your future needs.
If you’re thinking this move will be your last and you’ll enjoy your retirement in this smaller space, you may want to look...