U.S. Builder Confidence Up in April
U.S. builder confidence for new single-family homes in April increased 1 point from March to 83 points on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). The HMI component measuring current sales conditions rose 1 point in April to 88 and sales expectations in the next six months lost 2 points from March to 81. The component measuring prospective buyer traffic gained 3 points in April to 75.
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