The National Association of Home Builders is reporting that builder confidence is up 5 points this month.

These stats are according to their Housing Market Index (HMI), and indicates the biggest one month gain in 6 years.

What has brought on this surge of confidence? "If you’re a potential buyer who’s been sitting on the fence waiting for a sign that now is the time to act, this is it," said NAHB Chairman Joe Robson, a home builder from Tulsa, Okla. "Some of the most favorable buying conditions in a lifetime are now in place, and they are drawing more consumers back to the market."  

"This is a very encouraging sign that we are at or near the bottom of the current housing depression," said NAHB Chief Economist David Crowe. "With the prime home buying season now underway, builders report that more buyers are responding to the pull of much-improved affordability measures, including low home prices, extremely favorable mortgage rates and the introduction of the $8,000 first-time home buyer tax credit."

Click here to view current Market Conditions in your location.

Published: April 20, 2009

Use of this article without permission is a violation of federal copyright laws.