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U.S. Builder Confidence Rises

The component gauging expectations in the next six months was 1 point higher at 72, and the metric charting buyer traffic grew 2 points to 49.  All major HMI components were higher in May. The current sales conditions index increased 3 points to 72.  U.S. builder confidence in the market for new homes in May rose 3 points to 66 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI).

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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