The National Association of Home Builders HMI (Housing Market Index) is up 3 points in November, showing signs of improved builder confidence. This is 2 months in row totalling 6 point increase in the HMI. The Midwest Region we posted a huge 8 point gain from a revised 15 in October to preliminary 23 for November.
November 16, 2011 – Builder confidence in the market for newly built, single-family homes rose by three points to 20 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) for November, released today. The gain builds on a revised three-point increase in October, and brings the confidence gauge to its highest level since May of 2010.
Video from Chief Economist from NAHB:
- NAHB: Builder Confidence is Up for Second Straight Month (batcpls.org)
- NAHB Builder Confidence index increases in November (calculatedriskblog.com)
- Homebuilder confidence improves, gradual gains expected in 2012 (housingwire.com)