U.S. builder confidence for new single-family homes in February increased four points from January to 48, the best reading since August 2023, according to the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). The HMI component that tracks current sales rose four points to 52, while the measurement of sales expectations in the next six months grew three points to 60 in February. The prospective buyer traffic component was 33, four 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
