IE Business Daily Business news for the Inland Empire.
National home builders are confident about the housing market’s immediate future, according to data released Wednesday.
The National Association of Home Builders/Wells Fargo Housing Market Index rose four points to 56 in April, as all three components of the index – sales expectations, buyer traffic and current sales conditions – all posted gains.
“The HMI component index measuring future sales expectations rose five points in April to its highest level of the year,” said David Crowe, the association’s chief economist, in a statement. “This uptick shows builders are feeling optimistic that the housing market will continue to strengthen throughout 2015.”
The monthly index measures builders’ perception of the market for the next six months as good, fair or poor. The index is seasonally adjusted, and any number 50 or above indicates a majority of builders view the market’s immediate future as good.
