U.S. builder confidence for new single-family homes rose one point in April to 40, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI). The HMI component that tracks current sales was 45, increasing two points from March, while the measurement of sales expectations for the next six months shrunk four points to 43. The prospective buyer traffic component was 25, one point higher than 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
