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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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