U.S. Builder Confidence Rises in August
U.S. builder confidence for new single-family homes in August rose 4 points to 68 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). The HMI component gauging current sales conditions was up 4 points to 74, and sales expectations in the next six months index increased 5 points to 78. The component measuring buyer traffic inched upward 1 point to 49.
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