Faith in New Home Market at 18-Year High

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Posted To: MND NewsWire

Builder confidence shot up in December, reaching the highest level the National Association of Home Builders (NAHB) has recorded in 18 years . NAHB said its Housing Market Index (HMI), which is cosponsored by Wells Fargo, gained 5 points to 74 from a downwardly revised (from 70) November reading. The Index, which measures NAHB’s new home builder-members confidence in the market for newly constructed homes, was last at this level in July 1999. NAHB has been conducting the monthly survey for more than 30 years. NAHB asks builders for their perceptions of current single-family home sales and sales expectations for 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…(read more)

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