Wednesday, April 15, 2015

Homebuilder Confidence Rose in April

Homebuilder’s confidence in the market for newly built single-family homes rose 4 points to 56 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI).

All three components of the index improved in April. Sales expectations increased from 59 to 64, buyer traffic increased from 37 to 41, and the current sales component rose from 58 to 61.

Regional HMI scores were mixed. The Midwest dropped by 2 points to 54 and the West dropped by 3 points to 58. The South rose by one point to 56 and the North was unchanged at 42.

“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,” stated NAHB Chairman Tom Woods. Chief Economist David Crow added that “[Homebuilders] are feeling optimistic that the housing market will continue to strengthen throughout 2015.”

Read the NAHB/Wells Fargo release

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