U.S. Builder Confidence Remains Steady in July
U.S. builder confidence for new single-family homes in July was even with June at 68 points on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). The HMI component gauging current sales was level with June at 74 points. Sales expectations in the next six months fell 2 points to 73 and the component measuring buyer traffic rose 2 points to 52 from the month prior.
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