An NAHB survey released Monday reports that builder confidence for the newly constructed single-family market rose three points to a level of 63 on the NAHB/Wells Fargo Housing Market Index.
“This month’s reading is a return to HMI levels seen at the end of the housing boom in late 2005,” the NAHB said.
According to Fox Business, the data “renews hope that the overall economy could be on firmer ground.” RealtyTrac’s vice president Daren Blomquist tells Fox Business that it’s about time home builders gained more confidence, given strong sales data and low foreclosure activity.
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