Declining mortgage interest rates helped boost builders' confidence in the market for new single-family homes this month, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index
In fact, builder confidence is at its highest level since 2007, according to a recent NAHB/Wells Fargo housing market index
Builder confidence in the market for new single-family homes edged downward this month but remained well above where it was this time last year when mortgage interest rates were at their lowest point in nearly half a century, according to the National Association of Home Builders latest Housing Market Index
Moreover, homebuilder confidence in May reached its highest reading since January 2008 according to the NAHB/Wells Fargo Housing Market Index
Indicating a strong finish to what has been a record-breaking year for home sales, builder confidence in the new-homes marketplace remained unchanged in December from November's upwardly revised reading of 70 on the National Association of Home Builders' monthly Housing Market Index
(HMI), released today.
But the rest of this week's economic docket is heavy with housing related reports, starting with today's measure of homebuilder sentiment through the Housing Market Index
In the meantime, home builder confidence rose in February to the highest reading since May 2007, based on the NAHB/Wells Fargo Housing Market Index
Moreover, homebuilder confidence in December rose to its highest reading since May 2010 according to the NAHB/Wells Fargo Housing Market Index
Lastly, homebuilder confidence exhibited a back-to-back monthly increase in November to the strongest level since May 2010, based on the NAHB/Wells Fargo Housing Market Index
The National Association of Home builders Housing Market Index
is at 71, and many components of the index are higher than they've been in three years.
The National Association of Home Builders/Wells Fargo Housing Market Index
(HMI), known as the homebuilder sentiment index, jumped 3 points to 59 in August from 56 in July.
Multifamily builder confidence in the rental apartment market soared to a new high in the first quarter of 2006, as rising occupancies and rental rates pointed to increased consumer demand, according to the results of the National Association of Home Builders/Fannie Mac Multifamily Housing Market Index
(MMI), released today.