Builder Confidence Remains Strong in April

U.S. builder confidence for new single-family homes in April was 51, the same as March, according to the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). The HMI component that tracks current sales rose one point to 57, while the measurement of sales expectations in the next six months declined two points to 60 in March. The prospective buyer traffic component was 35, an increase of one point compared to last month.

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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