On June 18, 2018, National Association of Home Builders/Wells Fargo Housing Market Index (HMI) for newly built single family homes declined two points to 68 points in May of 2018 from 70 points in April of 2018.
The HMI component charting present sales conditions down one point to 75 points, the HMI buyer traffic index lower one point to 50 points, and the HMI sales expectations index decreased on point to 76 points in May of 2018.
The three-month moving averages for regional HMI scores, South dropped one point to 71 points, the West unchanged at 76 points, Northeast gained two points to 57 points, Midwest did not change at 65 points in May of 2018.
NAHB Chief Economist Robert Dietz, stated “However, builders do need access to lumber and other construction materials at reasonable costs in order to provide homes at competitive price points, particularly for the entry-level market where inventory is most needed.”
For complete more detailed information about NAHB Builder Confidence Index for May of 2018, please click HERE
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