Builder Confidence: Strong but Unchanged, Material Costs Rising

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Posted To: MND NewsWire

As analysts had expected, the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) remained at 68 this month. The reading still indicates a strong level of builder confidence in the new home market, but the HMI has been relatively static for months, moving within a two-point range, 68 to 70, since March. NAHB surveys its new home building members monthly on their attitude toward the market. They are asked to grade their perceptions of the current market and the market they expect over the next six months as “good,” “fair” or “poor.” The survey also asks builders 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…(read more)

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