Monday, December 15, 2014

Homebuilder Confidence Dips in December

The National Association of Home Builders/Wells Fargo Housing Market Index (HMI) fell one point to a level of 57 in December, after rising 4 points the previous month.

The HMI is made of three components, two of which experienced losses this month. The index for current sales decreased one point to 61 and the index measuring expectations for future sales dropped one point to 65. The index gauging traffic of prospective buyers remained at 45.

Of the four regions, two experienced declines in the three-month average. The Midwest recorded a three-point loss to 54 and the South dropped two points to 60. On the other hand, the West increased by four points to 62 and the Northeast edged up one point to 45.

“Members in many markets across the country have seen their businesses improve over the course of the year, and we expect builders to remain confident in 2015,” said NAHB Chairman Kevin Kelly, a home builder and developer from Wilmington, Del.

Read the NAHB release.

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