US Builder Confidence Holds Steady
U.S. builder confidence for new single-family homes in November held even with October at 63 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI).
The HMI measuring buyer traffic increased 1 point to 47, and current sales conditions remained at 69 compared to October. The component for sales expectations in the next six months fell 2 points from the previous month to 69. Derived from a monthly NAHB survey, the HMI gauges builder perceptions of current single-family home sales and sales expectations for the next six months. Scores from each component are then used to calculate a seasonally adjusted index where any number over 50 indicates that more builders view conditions as good rather than poor. See National Association of Home Builders