Builder Confidence Soars Post-Election

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Posted To: MND NewsWire

The National Association of Home Builders/Wells Fargo Housing Market Index (HMI) soared by 7 points in December, reaching a level of 70, the highest reading since July 2005. An NAHB spokesman credited the increase to a “post-election bounce.” The Index is based on a monthly survey NAHB conducts among its new homebuilder members in which they are asked to provide three measures of their confidence in the homebuilding market; a gauge their perceptions of current single-family home sales and their expectations for sales over the next six months as “good,” “fair” or “poor” and to rate traffic of prospective buyers as “high to very high,” “average” or “low to very low.” Scores for each component are then used to calculate a seasonally adjusted index where any number over 50 indicates that more builders…(read more)

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