Builder Confidence Increased In September

October 25, 2009

Builder confidence in the market for newly built, single-family homes increased for the third consecutive month in September, according to a report released by the National Association of Home Builders (NAHB). The National Association of Home Builders/Wells Fargo Housing Market Index (HMI) rose one point to 19 this month, its highest level since May 2008. All four regions nationwide posted gains in their HMI readings for September, with the West, which includes California, posting a one-point gain to 18.

Two out of three of the HMI’s component indexes also posted increases in September, according to the report. The index gauging current sales conditions rose two points to 18, while the index gauging traffic of prospective buyers rose one point to 17. The index gauging sales expectations for the next six months declined one point, to 29.

source: C.A.R.

Posted in Real Estate