Builder confidence hits yearly high in June

Builder confidence in the market for newly built, single-family homes in June rose five points to a level of 59 on the National Association of Home Builders/Wells Fargo Housing Market Index. This is the highest reading since September 2014.

“Builders are reporting more serious and committed buyers at their job sites and this is reflected in recent government data showing that new-home sales and single-family construction are gaining momentum,” NAHB chairman Tom Woods said in a statement.

“The HMI indices measuring current and future sales expectations are at their highest levels since the last quarter of 2005, indicating a growing optimism among builders that housing will continue to strengthen in the months ahead,” NAHB chief economist David Crowe added. “At the same time, builders remain sensitive to consumers’ ability to buy a new home.”

For more, visit www.nahb.org.