Builder confidence in the market for newly built single-family homes slid two points in May to a level of 54, but still posted a nine-point increase from a year ago, according to the National Association of Home Builders/Wells Fargo Housing Market Index (HMI).
A reading of 50 or more indicates that more builders view conditions as good than poor.
“Despite this month’s slight dip, builder confidence in the new-home market remains above the 50-point benchmark,” said NAHB Chairman Tom Woods. “Overall, the second quarter of 2015 is shaping up to be very solid.”