NAHB: July Builder Confidence surged 4 points to 53
First time builder sentiment above the 50 benchmark since January
Builder confidence in the market for newly-built single-family homes reached an important milestone in July, rising four points to a reading of 53 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) released today. Any reading over 50 indicates that more builders view sales conditions as good than poor. All components of the index were higher with the largest gain coming in “Future sales expectations” which was at its highest level since September.