Builder Confidence Down in February

U.S. builder confidence for new single-family homes in February decreased one point from January to 82, according to the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). The HMI component gauging current sales conditions grew one point to 90 and the measurement of sales expectations in the next six months dropped two points to 80 in February. The component measuring prospective buyer traffic fell four points from January to 65.

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 NAHB

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