Home builders are growing more optimistic about the state of housing and say they see signs that the end of the housing market’s three-year downward spiral may be near.
The increasingly upbeat mood was reflected in an index of builders’ confidence released Monday, which rose for the second month in a row in May.
A separate report by the industry’s trade group showed housing affordability improved in the first three months of this year amid falling home prices and low interest rates.
“The bottom line is there are good signs on the horizon,” said Jerry Howard, president and chief executive of the National Association of Home Builders. “It’s fair to say we could be closing in on the bottom, but we have a long road ahead of us.”
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