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July Sees Spike in Builder Confidence

Posted in Industry News

July Sees Spike in Builder Confidence

The market for newly-built, single-family homes is seeing growth and builders are taking notice. In fact, builder confidence surpassed a benchmark in July on the National Association of Home Builders/ Wells Fargo Housing Market Index, according to a new report from the National Association of Home Builders.

With an increase of four points over May’s reading, the latest mark on the index comes in at 53, the first time the index has seen a reading above 50 since January. Any reading over 50 means more builders think of current and near future sales conditions as good versus poor.

In addition to gauging builders’ perceptions of single-family home sales in the present and expectations for sales in the future, the monthly survey conducted by NAHB for the last 30 years also asks builders to rate the prevalence of prospective buyers as well. Scores from all three components are factored in together to calculate the seasonally adjusted index figure. All three areas of the index saw increases in July.

Read the full article from NAHB here.

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