Builder confidence in the market for newly-built, single-family homes in July hit a level of 60 on the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI). The last time the HMI reached this level was in November 2005.
Looking at the three-month moving averages for regional HMI scores, the Northeast rose three points to 47.
NAHB Chairman Tom Woods said that the fact that builder confidence has returned to levels not seen since 2005 shows that the fact that builder confidence has returned to levels not seen since 2005 shows that housing continues to improve at a steady pace.
To read the entire NAHB press release, click here