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Builder confidence rises in July

Jul 17, 2014

Builder confidence in the market for newly-built single-family homes rose four points in July to 53 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) released on July 17.

This is the first time since January that the indicator surpassed 50, the mark where more builders view sales conditions as good than poor.

“An improving job market goes hand-in-hand with a rise in builder confidence,” said NAHB Chief Economist David Crowe. “As employment increases and those with jobs feel more secure about their own economic situation, they are more likely to feel comfortable about buying a home.”

The HMI three-month moving average was up in all four regions, with the Northeast and Midwest posting a one-point and two-point gain to 35 and 48, respectively. The West registered a five-point gain to 52 while the South rose two points to 51.

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