U.S. Builder Confidence Dips Slightly in August
U.S. builder confidence for new single-family homes in August fell 1 point from the month prior to 67 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). The HMI components gauging current sales conditions and sales expectations in the next six months both fell 1 point to 73 and 72, respectively. The component measuring buyer traffic was down 2 points 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 a score over 50 indicates that more builders view conditions as good rather than poor. See NAHB