NAHB/Wells Fargo Housing Market Index (HMI)
As the pulse for the single-family housing market rises, the NAHB/Wells Fargo Housing Market Index (HMI) tracks its pulse every month based on; present sales, expected sales, and traffic of prospect buyers.
Builder confidence in the market for newly built single-family homes increased to 45 in April, marking the fourth consecutive monthly rise. This improvement was driven by a two-point gain in current sales conditions to 45, a one-point increase in prospective buyer traffic to 25, and a slight uptick in the use of sales incentives to 61%
According to the NAHB” Each month, the HMI depicts overall builder sentiment toward housing market conditions on a scale ranging between 0 and 100. A higher reading (>50) is an indication that the majority of builders feel confident about the current and near-term outlook for housing. Lower readings signify less optimism among builders.”
