Builder confidence in the market for newly-built, single-family homes in June rose five points to a level of 59, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI). This is the highest reading since September 2014.
Looking at the three-month moving averages for regional HMI scores, the Northeast rose three points to 44.
NAHB Chairman Tom Woods said that builders are reporting more serious and committed buyers at their sites and this is reflected in recent government data showing that new-home sales and single-family construction are gaining momentum.
To read the entire NAHB press release, click here