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U.S. Builder Confidence Highest in 18 Years

U.S. builder confidence for new single-family homes in December rose 5 points to 74 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). This is the highest report since July 1999. The HMI component gauging current sales conditions was up 4 points to 81, and sales expectations in the next six months increased 3 points to 79. The component measuring buyer traffic increased 8 points to 58.

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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