The National Association of Home Builders (NAHB) reported that April's Housing Market Index rose from a reading of 52 in March to 56 for April. This is in line with warmer weather and the peak home buying season in spring and summer. Readings over 50 indicate that more builders view market conditions as positive as those who do not. NAHB members cited lower mortgage rates and better labor market conditions as reasons they expect more home buyers to enter the market. All Components of Builder Confidence Increase The NAHB Home Builder Index is calculated from three components. The reading for … [Read more...]
What’s Ahead For Mortgage Rates This Week – November 24, 2014
Last week's scheduled economic news included the NAHB/Wells Fargo Housing Market Index, Housing Starts and Existing Home Sales. FOMC meeting minutes were released along with weekly Freddie Mac mortgage rates and weekly jobless claims. In addition, the National Association of Realtors® suggested that FHA should lower its mutual mortgage insurance premiums (MMI) as its fund for paying claims has normalized since recession. Homebuilder Confidence Nears Nine-Year High The National Association of Home Builders/ Wells Fargo Housing Market Index achieved a reading of 58 for November. This was two … [Read more...]
Homebuilder Confidence Nearly Triples In 2 Years
The National Association of Homebuilders (NAHB) Housing Market Index ended its 8-month winning streak this month, posting a value of 47. The January 2013 reading is on level with last month, and remains at a near 7-year high. The Housing Market Index (HMI) is a measure of home builder confidence. HMI readings below 50 indicate a "poor" new construction conditions for single-family homes nationwide; ratings above 50 signal "good" ones. Not since April 2006 has the Housing Market Index crossed into "good" territory, but the past two years have witnessed the HMI nearly triple; and the index … [Read more...]
Homebuilder Confidence Rises For 9th Straight Month
The National Association of Home Builders (NAHB) released its Housing Market Index (HMI), showing another monthly gain -- its ninth in a row. The HMI -- a gauge of homebuilder confidence -- rose 1 point to 47 in December 2012, lifting the index to its highest levels since April 2006. Readings under 50 indicate unfavorable housing conditions for builders. Readings over 50 signal "good" conditions. Coincidentally, the last time that the HMI read above 50 was April 2006, too. The Housing Market Index is based on a survey which the NAHB sends to its members. The survey asks the nation's builders … [Read more...]
Homebuilder Confidence Spikes To 6-Year High
The National Association of Home Builders (NAHB) released its Housing Market Index (HMI) Tuesday, which showed sharp, 5-point increase to 46 for November 2012, marking the seventh consecutive monthly gain for the HMI, and lifting the index to its highest point since May 2006. Readings under 50 indicate unfavorable housing conditions for builders. Readings over 50 signal "good" conditions. The Housing Market Index is a measure of builder confidence, published monthly, based on a survey sent to NAHB members which asks them to rate housing market conditions. In November, home builders … [Read more...]