- MILITARY-INDUSTRIAL COMPLEX: Defense Dept. Contracts for Dec. 19, 2014
- "Hobbit" will Dominate Boxoffice; "Wild" & "Big Eyes" Slated for Debut
- Buckeye Elite National Basketball Showcase To Take Place in Huntington This Weekend
- MILITARY-INDUSTRIAL COMPLEX: Defense Dept. Contracts for Dec. 18, 2014
- CARIBBEAN VIEW: Venezuela in financial difficulty, will Petro Caribe survive?
- OP-ED: Commemorate Universal Children’s Day: End Child Labor
- OP-ED: Do Wars Really Defend America’s Freedom?
- Fans can wish Herd good luck with recorded video message
- Senator Rockefeller to Deliver Farewell Address Thursday on Floor of United States Senate
- Charleston Had only Three Hour Water Reserve when MCHM Spilled
NAHB: Builder Confidence Remains in Holding Pattern
“After four months in which the HMI has shown little signs of fluctuation, it is clear that builder sentiment is becoming more in line with the market reality of a continuing but modest recovery,” said NAHB Chairman Kevin Kelly, a home builder and developer from Wilmington, Del. “However, builders expressed some optimism that sales will pick up in the coming months.”
“Builders are waiting for consumers to feel more secure about their financial situation,” said NAHB Chief Economist David Crowe. “Once job growth becomes more consistent, consumers will return to the market in larger numbers and that will boost builder confidence.”
Derived from a monthly survey that NAHB has been conducting for 30 years, the NAHB/Wells Fargo Housing Market Index gauges builder perceptions of current single-family home sales and sales expectations for the next six months as “good,” “fair” or “poor.” The survey also asks builders to rate traffic of prospective buyers as “high to very high,” “average” or “low to very low.” Scores for each component are then used to calculate a seasonally adjusted index where any number over 50 indicates that more builders view conditions as good than poor.
The index’s components were mixed in May. The component gauging sales expectations in the next six months rose one point to 57 and the component measuring buyer traffic increased two points to 33. The component gauging current sales conditions fell two points to 48.
Looking at the three-month moving averages for regional HMI scores, the South rose one point to 48 while the Midwest fell a single point to 47 and the West posted a four-point drop to 47. The Northeast held steady at 33.
Editor’s Note: The NAHB/Wells Fargo Housing Market Index is strictly the product of NAHB Economics, and is not seen or influenced by any outside party prior to being released to the public. HMI tables can be found at nahb.org/hmi. More information on housing statistics is also available at housingeconomics.com.