Builder Confidence Buoyed by Lower Rates

Posted To: MND NewsWire

After falling an aggregate of 12 points in November and December the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) appears to have stabilized. The HMI, a measure of home builders' confidence in the market for newly constructed homes, gained 2 points in January, rising to 58. This one 1-point higher than analysts polled by Econoday had predicted. "The gradual decline in mortgage rates in recent weeks helped to sustain builder sentiment," said NAHB Chairman Randy Noel. "Low unemployment, solid job growth and favorable demographics should support housing demand in the coming months." The HMI is derived from a monthly survey that NAHB has been conducting for 30 years among its builders who specialize in new residential construction. The survey asks builders...(read more)

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