The National Association of Home Builders (NAHB) coupled with Wells Fargo 35 years ago to create the Housing Market Index (HMI). NAHB.org defines the NAHB/Wells Fargo Housing Market Index (HMI) as based on a monthly survey of NAHB members designed to take the pulse of the single-family housing market. The survey asks respondents to rate market conditions for the sale of new homes at the present time and in the next six months as well as the traffic of prospective buyers of new homes.
According to an article from MortgageNewsDaily.com, November was the third straight month the level of builder confidence in the new home market has increased and has set a record high. These three months are the only times in it’s history that the index has surpassed the 80-point level, and is triple it’s April level when the pandemic caused it to plunge.
Read the complete article:
Builder Confidence Continues to Shatter Previous Records.
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