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Builder Confidence up; First Time in 2015

Wednesday, April 15, 2015

The index measuring building confidence in the market for new single family homes stopped its three month slide in April, jumping four points from its March level.  National Association of Home Builders (NAHB) Chairman Tom Woods said, "As the spring buying season gets underway, home builders are confident that current low interest rates and continued job growth will draw consumers to the market.  

The NAHB/Wells Fargo Housing Market Index (HMI) rose to 56 in April.  This is still 2 points below where it stood at the end of 2014. 

The HMI is derived from a survey conducted by NAHB and Wells Fargo Bank among NAHB's new home builder-members.  The survey, which has been conducted for over 30 years, asks respondents to define their perceptions of current single-family home sales and sales expectations for the next six months as "good," "fair" or "poor."

 

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