Builder Confidence Rises To Highest Level Since 2006

The National Association of Home Builders Housing Market Index measures builder confidence in the market for newly built, single-family homes. The monthly survey asks builders for their perceptions of the current market, traffic of prospective buyers, and expectations for the next six months, then scores each component on a scale where any number over 50 means more builders see conditions as good than poor. In September, the index rose to 40, the highest level since June 2006 and the fifth straight month of improvement. David Crowe, NAHB’s chief economist, said builders across the country are expressing a more positive outlook and are seeing more traffic through their model homes than they have in more than five years. More here and here.

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