YORBA LINDA. August 21, 2009. Confidence in the market for builders of newly built, single-family homes rose in August to its highest level since June 2008, according to the National Association of Home Builders/Wells Fargo Housing Market Index.

Home building expectations have been buoyed by the success of the first-time home buyer tax credit that expires Nov. 30, 2009.  Concerned Chairman Joe Robson of NAHB wonders whether there will be enough momentum to keep us moving toward a recovery, in light of  the severe credit crunch for housing production loans and inappropriate appraisal practices that are scuttling a quarter of all new-home sales.  Unless Congress and the Administration focus on housing there is concern that the current sales may well be short lived.  S&S Builders in Yorba Linda California report that they have a waiting list for condominiums in the 500K range.

Jewel Kreider

Yorba Linda Real Estate Insider