Construction company owners are becoming more excited about their future prospects, as the latest report from the National Association of Home Builders/Wells Fargo Housing Market Index found that builder confidence has risen for the fourth consecutive month.
Confidence is now at its highest point since prior to the start of the recession, according to the NAHB. The last time the index measured this high was in June 2007.
"Builder confidence has now risen four months in a row, with the latest uptick being universally represented across every index component and region," said Bob Nielsen, chairman of the NAHB. "This good news comes on the heels of several months of gains in single-family housing starts and sales, and is yet another indication of the gradual but steady improvement that is beginning to take hold in an increasing number of housing markets nationwide."
Those who foresee new projects on the horizon should prepare by updating their construction equipment. The auction website IronPlanet makes it easy to buy and sell used construction equipment online. What's more, the site includes their IronClad Assurance inspection report with each piece, allowing builders to bid with confidence.
