Traffic Concerns Continue to Weigh on Builders

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Posted To: MND NewsWire

The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) improved slightly in August, but remained within the narrow range of 58 to 61 it has inhabited since December. The index, a measure of builder confidence in the market for new single-family home, increased by two points to 60. The July HMI, originally reported at 59 was revised down to 58. The index peaked at a decade long high of 65 in October. NAHB constructs the index from responses to a survey it has conducted with its new home builder members for 30 years. The survey asks respondents to classify their perceptions of current single-family home sales and their expectations for sales over the upcoming six months as “good,” “fair” or “poor.” Builders are also asked to rate current prospective buyer traffic…(read more)

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