Builder confidence continues on upward trend
In a further sign that the housing market continues to strengthen, builder confidence in the market for newly-built single-family homes rose two points in May to a level of 70 on the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI). This is the second highest HMI reading since the downturn.
The Northeast saw a three-point gain to 49.
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