Homebuilders Optimistic as Mortgage Rates Decline, Expecting Surge in Buyer Demand in 2024
Birmingham, Ala. – Homebuilders in Alabama are expressing growing confidence in the housing market due to a decline in mortgage rates, which is expected to lead to stronger demand from potential buyers. According to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI), builder sentiment increased by 4 points to 48 in February. This marks the third consecutive month of growth and the highest level since August 2023. The latest rise in …