The National Association for Home Builders/Wells Fargo Housing Market Index (HMI) reports builder confidence for new single-family homes rose two points in Dec. to 47, the highest level since April 2006. The HMI rates builders perceptions of market conditions based on current traffic, sales expectations for the next six months, and current sales to reach a composite where any number above 50 indicates sales conditions are good rather than poor. “While there is still much room for improvement, the consistent upward trend in builder confidence over the past year is indicative of the gradual recovery that has been taking place in housing markets nationwide and that we expect to continue in 2013,” noted NAHB Chief Economist David Crowe. As MHProNews understands, NAHB has been conducting this survey for 25 years.
