The National Association of Home Builders reports builder confidence rose four points in Dec. to 58, where any number over 50 indicates builders see the market as good rather than poor. The Wells Fargo Housing Market Index (HMI) is based on current sales conditions, sales expectations and traffic of prospective buyers for newly-built, single-family homes. NAHB Chairman Rick Judson says, “The HMI is up 11 points since Dec. of 2012 and has been above fifty for the past seven months.” NAHB Chief Economist David Crowe adds, “Following a two-month pause in the index, this uptick is due in part to release of the pent-up demand caused by the uncertainty generated by the October government shutdown. We continue to look for a gradual improvement in the housing recovery in the year ahead.” As MHProNews has learned, regionally, the South added one point, while the Northeast, the Midwest and the West each lost a point.
(Photo credit: housingwire.com)