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Monday, June 16, 2014

Homebuilder Confidence Improved in June

Homebuilder confidence improved in June as the index rose four points to 49, according to the National Association of Home Builders (NAHB). The index remains one point below what the NAHB considers good building conditions. The four-point improvement comes after several months of invariability and shows renewed confidence in the industry, however, builders are still facing headwinds such as limited availability of labor and hesitant consumers awaiting indications of a more robust economic recovery.

Gains were seen in all three indexed components, showing a six-point improvement in current sales conditions, followed closely by three-point improvements in sales expectations in the next six months as well as buyer traffic.

Of the four housing regions in the U.S., the South and Northeast edged up one point to 49 and 34 respectively, while the West was unchanged at 47 and the Midwest fell one point to 46.

Read the NAHB release.

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