Industry News

Stagnant builder confidence a sign of ‘stabilizing’ market

Index reveals weaker sales expected over next 6 months

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Indicating stabilizing conditions in the nation's single-family housing market, home builder confidence remained unchanged in February from levels gauged in each of the past two months, according to the National Association of Home Builders/Wells Fargo Housing Market Index (HMI), released Wednesday. February marks the third consecutive month in which the HMI has held at 57, and the second consecutive month in which there has been no change posted in the index component that gauges current single-family home sales. "After several record-breaking years for home sales, builders are anticipating a return of the market to a healthy and steady pace," said NAHB President David Pressly, a home builder from Statesville, N.C. Derived from a monthly survey that NAHB has been conducting for almost 20 years, the NAHB/Wells Fargo HMI 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 build...