As home prices rise, so does home builder confidence. Tuesday, the National Association of Homebuilders reported its monthly Housing Market Index (HMI) at 41, a one-tick improvement from September and the highest HMI value since June 2006 -- a span of 77 months. The Housing Market Index is a homebuilder confidence indicator. When it reads 50 or better, the HMI suggests favorable conditions for home builders nationwide. Readings below 50 suggest unfavorable conditions for builders. The HMI has not crossed 50 since April 2006 but the index has been making a run since last year, nearly … [Read more...]
Homebuilder Confidence Rises Again; Tops 40
Home builder confidence continues to make new highs. As reported by the National Association of Home Builders, the Housing Market Index, a measure of builder confidence, rose to a reading of 40 in September -- its highest mark since June 2006. The index is now higher through five straight months and 11 of the last 12. For home buyers in Phoenix , the survey may be signaling higher new home prices ahead; when builders are more confident in housing, they're may be less likely to make concessions in price, and to "sweeten" deals with free upgrades and/or subsidized mortgage rates. The … [Read more...]
Homebuilder Confidence Rises To 5-Year High
Home builder confidence rises again. For August 2012, the National Association of Homebuilders reports the monthly Housing Market Index at 37 -- an increase of more than 100% from one year ago and the highest HMI value since February 2007. The Housing Market Index is an indicator of homebuilder confidence and when it reads 50 or better, the HMI suggests favorable conditions for home builders. Readings below 50 suggest unfavorable conditions for builders. Despite the recent rise in home builder attitudes, however, the Housing Market Index remains mired below 50 where it's been since April 2006. … [Read more...]