Research >> Economics
Builder Confidence Continues To Rise In May
Builder confidence in the market for newly built, single-family homes improved for a second consecutive month in May to the highest level since September of 2008, according to the National Association of Home Builders/Wells Fargo Housing Market Index. The HMI rose two points to 16 this month.
The fact that the May HMI continued to tick up from April's five-point increase provides confirming evidence that the improved confidence level was no fluke. This continued increase indicates that home builders feel we’re at or near the bottom of the market and that positive signs lie ahead for builders and potential home buyers, provided that builder access to production credit significantly improves.
Posted: May 18, 2009 Monday 01:00 PM