Home builder confidence passes a milestone
Monday, June 17, 2013 2:40 PM
Builder confidence in the market for newly built single-family homes surged eight points in May to a reading of 52 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) released today. Any reading over 50 indicates that more builders view sales conditions as good rather than poor. This was the first time since April 2006 that the index passed a reading of 50, and the eight-point jump in the index was the biggest one-month gain since August and September of 2002, according to a news release.