On July 16, 2019, National Association of Home Builders/Wells Fargo Housing Market Index (HMI) for newly built single family homes up one point to 65 points in July of 2019 from 64 points in June of 2019.
The HMI component charting present sales conditions gained one point to 72 points, the HMI buyer traffic higher one point to 48 points, and the HMI sales expectations index increased one point to 71 points in July of 2019.
The three-month moving averages for regional HMI scores, South grew one point to 68 points, the West rose one point to 72 points, Northeast stayed the same at 60 points, Midwest down one point to 56 points in July of 2019.
NAHB Chief Economist Robert Dietz, stated “The current low mortgage interest rate environment should be getting more buyers off the sidelines, but they remain hesitant due to affordability concerns. Still, attractive rates should help spur new home purchases in large metro suburban markets, where approximately one-third of new construction takes place.”
For complete more detailed information about NAHB Builder Confidence Index for July of 2019, please click HERE
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