Builder confidence in the market for newly-built
single-family homes remained unchanged at a solid 68 reading in July on the
National Association of Home Builders/Wells Fargo Housing Market Index (HMI).
The HMI index measuring current sales conditions remained
unchanged at 74. Meanwhile, the component gauging expectations in the next six
months dropped two points to 73 and the metric charting buyer traffic rose two
points to 52.
Looking at the three-month moving averages for regional HMI
scores, the Northeast rose one point to 57 while the Midwest remained unchanged
at 65. The West and South each fell one point to 75 and 70, respectively.
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