The National Association of Home Builders announced on May 19^th, 2009 that the market for the newly built, single-family homes in the USA improved for a second consecutive month in May to the highest level since September of 2008. The National Association of Home Builders/Wells Fargo Housing Market Index (HMI) rose two points to 16 this month.

NABH Chairman, Joe Robson noted several factors contributing to the rise in confidence level in the US real estate market. Favorable mortgage rates, $8000 tax credit for first time home buyers, affordable prices and the multitude of home choices are appealing to potential home buyers and investors to make a move.

Many real estate professionals reported not only are they seeing local homebuyers with solid financials showing interest in the market.  They are also reporting a slow rise in foreign interest in US real estate. Although these foreign real estate investors do not qualify for tax incentives, however the potential return on attractively priced quality real estate properties is enough to them focused and interested in US properties.

This entry was posted on Tuesday, May 19th, 2009 at 9:45 pm and is filed under International Real Estate Buyers, Real Estate Market Analysis, Second Home. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.