Continued Improvement in U.S. Builder Confidence

U.S. builder confidence for new single-family homes in January increased seven points from December 2023 to 44, according to the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). The HMI component that tracks current sales rose seven points to 48, and the measurement of sales expectations in the next six months surged 12 points to 57 in January. The prospective buyer traffic component was 29, five points higher than 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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