NAHB: Builder confidence ends four months of consecutive increase

Builder confidence in the market for newly-built single-family homes edged down one point to a level of 70 in March from a downwardly revised February reading on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). This is the fourth consecutive month at or above a level.

The renewed sense of confidence isn’t purely a result of the new year – in fact builder confidence has increased for four consecutive months. Still, confidence is relatively low as the 4-point.

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The National Association of Home Builders (NAHB) reported the housing market index (HMI) was at 65 in July, up from 64 in June. Any number above 50 indicates that more builders view sales conditions as good than poor. From NAHB: Builder Confidence Holds Firm in JulyBuilder confidence in the market for newly-built single-family homes rose one [.]

Although stressing that the index remains in positive territory, NAHB said its measure of home builder confidence lost 4 points compared to November, landing at 56.

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From the NAHB: Four-Month Upturn Ends as Builder Confidence Falls in October After four consecutive monthly gains, builder confidence in the market for newly built single-family homes fell five points to a level of 54 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI), released today.

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It described the two-point rise Monday as one on rebound for the third consecutive month.. ""While builder confidence remains low, the consistent gains registered over the past several months are.

Builder confidence in the market for newly built single-family homes reversed course and dropped after four consecutive months of increases, falling five points to a level of 54 on the National.

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The Housing Market Index (HMI) is based on a monthly survey of NAHB members designed to take the pulse of the single-family housing market. The survey asks respondents to rate market conditions for the sale of new homes at the present time and in the next six months as well as the traffic of prospective buyers of new homes.

Summary: The National Association of Home Builders (NAHB) reported the housing market index (HMI) was at 65 in July, up from 64 in June. Any number above 50 indicates that more bu