December’s National Association of Home Builders Housing Market Index reported slipping builder confidence in U.S. housing markets. The Housing Market Index readings fell every month in 2022. Recently rising mortgage rates, materials costs, and inclement winter weather contributed to builder skepticism about current housing market conditions. December’s National Housing Market Index reading of 31 was the lowest since mid-2012 not including readings published during the pandemic. By comparison, the Housing Market Index reading for December 2021 was 84. The three indices … [Read more...]
Builder Confidence In New Home Sales Stay Near All Time High
Many times real estate market experts point to the feelings of the nation's home builders as a bell-weather signalling the health of the housing sector. This month's reading indicates that home builders are feeling pretty good. The National Association of Home Builders / Wells Fargo Housing Market Index (HMI) for February changed by one point to 46 as compared to 47 for January's reading. Over the last four months, HMI readings have stayed within a three-point range between 45 and 47, indicating a plateau after rising from 25 to 45 in 2012. Housing Market Index Near Highest Levels Since … [Read more...]
