News & Opinions
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Builder Confidence Surpasses Key Benchmark in July
David Crowe/ Eye on Housing / July 16, 2014
Builder confidence in the market for newly-built single-family homes rose four points to a reading of 53 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). Any reading over 50 indicates that more builders view sales conditions as good than poor.
The July reading marks the first time since January that the index has been above a level of 50. Better employment data and economic growth for the second quarter have buoyed builder confidence as the summer progresses.