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Builder Confidence Stabilizes at Pre-Crash Level

Monday, August 17, 2015

Builder confidence remained stable this month.  The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) added a point to reach 61, the highest for the HMI since November 2005.  The Index hit 60 in June for the first time in ten years and was unchanged at that level in July.

The HMI and its three component indices are derived from a monthly survey NAHB conducts among its new home builder members to gauge their perceptions of single-family home sales both current and over the upcoming six months.  Respondents are also asked to rate current buyer traffic as "high to very high," "average" or "low to very low." Scores for each component are then used to calculate a seasonally adjusted index where any number over 50 indicates that more builders view conditions as good than poor.  NAHB has conducted the survey for over 30 years.

 

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