U.S. builder confidence for new single-family homes in September increased 1 point from August to 76, according to the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). The HMI component gauging current sales conditions grew 1 point to 82 and the measurement of sales expectations in the next six months remained at 81 points in September. The component measuring prospective buyer traffic rose 2 points from August to 61.
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