July 19, 2013: Housing Market Index at Highest Level Since January 2006
Index Shows Homebuilder Confidence Is Up Across Every Region
WASHINGTON — Builder confidence in the market for new single-family homes rose six points to 57 on the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) for July. This is the index’s third consecutive monthly gain and its strongest reading since January 2006.
Rick Judson, NAHB chairman, said that this new report “is particularly encouraging in that it shows improvement in builder confidence across every region as well as solid gains in current sales conditions, traffic of prospective buyers, and sales expectations for the next six months.” However, he cautioned, “This positive momentum could be disrupted by threats on the policy side, particularly with regard to the mortgage interest deduction and federal support for the housing finance system.”