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Builders’ Hopes Rise

The National Association of Home Builders/Wells Fargo Housing Market Index (HMI) states builder confidence for newly built, single-family homes rose six points in July, the biggest monthly jump in nearly ten years, and at 35 points, the highest number since 2007. The survey gauges builders’ perceptions based on prospective buyers, current building, and sales expectations for the next six months. Builder confidence gained in every region of the country: The Northeast gained eight points to 36, the Midwest rose three points to 34, the south moved up five points to 32, and the West rose 12 points to 44. MHProNews.com has learned any score over 50 indicates more builders view conditions as good instead of poor.

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