U.S. builder confidence for new single-family homes in April climbed one point from March to 45, marking the fourth consecutive month of increases, according to the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). The HMI component gauging current sales conditions grew two points to 51, and the measurement of sales expectations in the next six months rose three points to 50 in April. The prospective buyer traffic component was 31, marking no change from March.
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