The Demand for Homes Is Firming Up

First-time home buyers also have access to the $8,000 federal tax credit and a few states, including California, have enacted their own credits. – Courtesy of picasaweb.google.com

The cyclical troughs for sales of both new and existing homes apparently were hit in the first quarter, and the official sales numbers improved to some degree in April. This is exciting news for landscape architects and contractors who are looking to tap into the ever-burgeoning housing market. Recent indicators of home buying activity actually show that demand is firming up to some degree, despite the weakening job market and tighter credit standards.

The affordability of home buying has soared as house prices have fallen in many places and mortgage rates have held in a historically favorable range. Consumers’ views of home buying conditions have strengthened in the process — according to measures produced by the University of Michigan. – Courtesy of National Association of Home Builders