 |
Builder confidence rose six points to 35 in July according to the National Home Builders Association/Wells Fargo Housing Market Index.
The HMI tracks builder perceptions of single family home sales, expectations of sales in the next six months, and prospective buyer traffic. All three elements of the index increased in the last month as did builder confidence in every region.
Although the confidence rating of 35 still falls below 50, which demonstrates that more builders view overall conditions as good versus poor, the rising index may indicate that the housing market is back on an upswing.