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Posts Tagged ‘six points’

Mood Continues to Brighten for Home Builders

August 15th, 2013 Comments off

Builder confidence for new, single-family homes rose three points to 59, according to the National Association of Home Builders (NAHB) Wells Fargo Housing Market Index (HMI), bringing the index to its highest mark in almost eight years. Any number over 50 is rated as “good”, MHProNews has learned. The index measures current sales, traffic of prospective customers and sales expectations for the next six months. Says NAHB Chief Economist David Crowe, “Builder confidence continues to strengthen along with rising demand for a limited supply of new and existing homes in most local markets. However, this positive momentum is being slowed by the ongoing headwinds of tight credit and low supplies of finished lots and labor.” Regionally, the Midwest gained six points to 60, the West also moved up six points, to 57, while the South notched a four-point gain and the Northeast remained steady at 39.

(Photo credit: Sue Orgocki/Associated Press)

Newly-built Housing Index Highest in Seven Years

July 17th, 2013 Comments off

According to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) for July, builder confidence for newly-built single-family homes rose six points to 57, the index’s third consecutive monthly gain and the highest reading since Jan. 2006. Based on builder perceptions of current home sales, traffic of prospective buyers and sales expectations for the coming six months, any number over 50 indicates builders see the market as good rather than poor. While the numbers show definite improvement in the newly-built housing market, NAHB Chairman Rick Judson cautions, “This positive momentum could be disrupted by threats on the policy side, particularly with regard to the mortgage interest deduction and federal support for the housing finance system.” MHProNews has learned all four regions registered positive news: The Northeast gained four points to 40, the Midwest moved up eight points to 54, while the South increased five-points to 50 and the West hit 51 after moving up three points.

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Builder Confidence Regains Three Points

May 15th, 2013 Comments off

The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) composite reports builder confidence rose from 41 in April to 44 in May, as all three indexes that make up the composite gained. The HMI is based on builders’ perceptions of current sales, sales expectations, and traffic of prospective buyers, all of which showed an increase for May. MHProNews has learned the HMI has been used for 25 years. “Builders are noting an increased sense of urgency among potential buyers as a result of thinning inventories of homes for sale, continuing affordable mortgage rates and strengthening local economies,” says NAHB Chairman Rick Judson. The three-month moving averages revealed no changes in the Northeast, Midwest, or South, with index scores of 37, 45, and 42 respectively, while the West dropped six points to 49.

(Photo credit: comstockpremium)

Builders’ Hopes Rise

July 17th, 2012 Comments off

The National Association of Home Builders/Wells Fargo Housing Market Index (HMI) states builder confidence for newly built, single-family homes rose six points in July, the biggest monthly jump in nearly ten years, and at 35 points, the highest number since 2007. The survey gauges builders’ perceptions based on prospective buyers, current building, and sales expectations for the next six months. Builder confidence gained in every region of the country: The Northeast gained eight points to 36, the Midwest rose three points to 34, the south moved up five points to 32, and the West rose 12 points to 44. MHProNews.com has learned any score over 50 indicates more builders view conditions as good instead of poor.

(Photo credit: FotoSearch)