On December 17, 2018, National Association of Home Builders/Wells Fargo Housing Market Index (HMI) for newly built single family homes down four points to 56 points in December of 2018 from 60 points in November of 2018.
The HMI component charting present sales conditions dropped six points to 61 points, the HMI buyer traffic lost two points to 43 points, and the HMI sales expectations index declined four points to 61 points in December of 2018.
The three-month moving averages for regional HMI scores, South decreased three points to 65 points, the West lower three points to 68 points, Northeast fell eight points to 50 points, Midwest down two points to 55 points in December of 2018.
NAHB Chief Economist Robert Dietz, stated “This housing slowdown is an early indicator of economic softening, and it is important that builders manage supply-side costs to keep home prices competitive for buyers at different price points.”
For complete more detailed information about NAHB Builder Confidence Index for December of 2018, please click HERE
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