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Builder Confidence Ebbs, But Still Solid Overall

Posted To: MND NewsWire

Even though overall builder confidence retreated from March levels, the National Association of Home Builders (NAHB) called the April reading of the NAHB/Wells Fargo Housing Market Index (HMI) “solid.” The index dropped from what NAHB said was an unusually high March reading of 71 to 68. The index had surged by 7 points month-over-month in March. Economists polled by Econoday had expected the index would better consolidate that gain, projecting an HMI between 69 and 71 with a consensus of 70. “Even with this month’s modest drop, builder confidence is on very firm ground , and builders are reporting strong interest among potential home buyers,” said NAHB Chairman Granger MacDonald. NAHB surveys its new home builder members monthly, asking them to express their perceptions of current single-family…(read more)

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Source: Mortgage News Daily

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