National builder confidence in the market for newly-built, single-family homes rose six points to 35 for July on the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI). This is the largest one-month gain recorded by the index in nearly a decade.
In the Northeast, the HMI registered an eight-point gain to 36.
NAHB Chairman Barry Rutenberg said this is greater evidence that the housing market has turned the corner as more buyers perceive the benefits of purchasing a newly-built home while interest rates and prices are so favorable.
To read the entire NAHB press release, click here