Posted To: MND NewsWire
Another Massive Jump in Builder Confidence
Economists talk about the potential for a V shaped recovery from the pandemic and that is exactly the pattern displayed by the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI). The HMI, a measure of builder confidence in the market for newly constructed homes, rose 14 points this month, completing the upward leg of the V and returning to its pre-pandemic March reading of 72. The index had plummeted 42 points in April before staging a three-month comeback.
Derived from a monthly survey that NAHB has been conducting for 30 years, the HMI gauges builder perceptions of current single-family home sales and sales expectations for the next six months as “good,” “fair” or “poor.” The survey also asks builders to rate traffic of prospective buyers as “high to very…(read more)
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