Builder confidence in the market for newly built
single-family homes rose four points in August to 68 on the NAHB/Wells Fargo
Housing Market Index (HMI).
All three HMI components posted gains in August. The
component gauging current sales conditions rose four points to 74 while the
index charting sales expectations in the next six months jumped five points to
78. Meanwhile, the component measuring buyer traffic increased a single point
to 49.
Looking at the three-month moving averages for regional HMI
scores, the Northeast rose one point to 48. The West, South and Midwest all
remained unchanged at 75, 67 and 66, respectively.
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