Housing Analysis

Home Builder Confidence Jumps By Widest Margin Since 2002

U.S. housing markets are gaining as demand for homes exceeds available supplies in many areas. The National Association of Home Builders/ Wells Fargo Housing Market Index (HMI) for June increased by eight points over May's reading to achieve a positive reading of 52. This last happened in August-September of 2002, when HMI monthly readings also jumped by eight points. Any reading over 50 indicates that more builders consider housing market conditions positive than negative. June's reading was the first time the HMI reading surpassed a reading of 50 since April 2006. Limited Inventory Drives Sales Of New Homes Rick Judson,…
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