U.S. Builder Confidence Slightly Falls in April
U.S. builder confidence for new single-family homes fell 3 points to 68 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI).
The HMI component gauging current sales conditions fell 3 points to 74, and sales expectations in the next six months index decreased 3 points to 75. The component measuring buyer traffic fell 1 point down to 52.
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