Builder Confidence: Steady or Stuck?

Posted To: MND NewsWire

The National Association of Home Builders (NAHB) said its Housing Market Index (HMI), which it produces in cooperation with Wells Fargo, barely budged again in July. The index eased back one point to 59, having remained in a range of 58 to 61 since last December. The HMI is derived from new-home builder responses to a survey the builders' association has been conducting for 30 years. Builders are asked for their perceptions of both current single-family home sales and sales expectations for the next six months as "good," "fair" or "poor." They are also asked to rate traffic of prospective buyers 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...(read more)

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from Mortgage News Daily http://ift.tt/29OzKBC