The latest report from the National Association of Home Builders shows that builder confidence has reached a four-year high, with many contractors liking their prospects for 2012.
The NAHB/Wells Fargo Housing Market Index (HMI) measures survey results sent to builders every month. The questions pertain to the contractor's confidence in single-family home sales and sales expectations for the next six months.
In February, the index rose from 25 to 29, the fifth straight month of rising confidence. Although the score of "29" is lower than points seen before the recession, it was still the highest the confidence level has hit since 2008.
"Builder confidence has doubled since September as measured by the HMI," said NAHB Chairman Barry Rutenberg. "Given the recent improvements in new home starts and the increasing number of markets included in the NAHB/First American Improving Markets Index, this consistency suggests that the housing market is moving toward more sustainable growth."
With a year of improved business on the horizon, contractors should prepare themselves for an influx of projects. One way to ensure that these go off without a hitch is by investing in more pieces of construction equipment. The online auction website IronPlanet offers a wide range of used construction equipment backed by their IronClad Assurance inspection reports, which allow bidders to know exactly what they're buying.
