Homebuilder confidence in the market for newly-built, single family homes appears stable as the spring buying season gets underway in Orlando.
The confidence reading is recorded and reported monthly by the National Association of Homebuilders. For the 4th straight month, the group's Housing Market Index reads 16.
As a market indicator, Housing Market Index has been tracked for more than twenty years and reports on a 1-100 scale. A value of 50 or better indicates "favorable conditions" for home builders.
HMI hasn't read higher than 50 since April 2006.
Broken down, the Housing Market Index is......
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Home Builders Report Higher Sales Levels In January
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