Home Builder Future Sales Confidence Rises To New Highs
Home builders are gaining confidence in current and future market conditions for new homes, but continue to see below-average foot traffic in new homes. The reading for May's National Association of Home Builders (NAHB) /Wells Fargo Housing Market Index (HMI) increased by three points to a reading of 44 as compared to April's revised reading of 41. The HMI measures builder confidence in current sales conditions for newly built homes, buyer foot traffic in new homes and builder expectations for future sales conditions. Builder Confidence In Future New Home Sales Highest Since February 2007 The HMI reading for current sales…