MHProNews has learned the NAHB/Wells Fargo Housing Market Index (HMI) for newly-built single-family homes edged up one point to 41, its highest reading since June 2006. Any score above 50 indicates builders see sales conditions as good rather than poor. “Many builders are reporting increases in the number of serious buyers visiting their sales offices, and the overall confidence measure is much higher than it was at this time last year,” noted NAHB Chairman Barry Rutenberg, a home builder from Gainesville, Fla. Considering three-month moving averages, the HMI rose two points in the Midwest and West to 42 and 44, respectively. The South gained three points to 39, while the Northeast remained at 29.
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