Home Builders Confidence Inches Up

MHProNews has learned from the National Association of Home Builders (NAHB) their Wells Fargo Housing Market Index (HMI) reports builder confidence in the market for new, single-family homes rose one point in June, to 29, the highest level attained since May of 2007. Based on a 25 year-old survey, the HMI measures builders expectations for the next six months based on current building activity and prospects’ inquiries. A number over 50 indicates builders’ see conditions as good rather than poor. Regionally, the Midwest and West posted gains, while the South and Northeast indicated decline.

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