On September 17, 2019, National Association of Home Builders/Wells Fargo Housing Market Index (HMI) for newly built single family homes up one point to 68 points in September of 2019 from 67 points in August of 2019.
The HMI component charting present sales conditions gained two points to 75 points, the HMI buyer traffic unchanged at 50 points, and the HMI sales expectations index decreased one point to 70 points in September of 2019.
The three-month moving averages for regional HMI scores, South grew one point to 70 points, the West rose two points to 75 points, Northeast gained two points to 59 points, Midwest unchanged at 57 points in September of 2019.
“Solid household formations and attractive mortgage rates are contributing to a positive builder outlook,” said NAHB Chief Economist Robert Dietz. “However, builders are expressing growing concerns regarding uncertainty stemming from the trade dispute with China. NAHB’s Home Building Geography Index indicates that the slowdown in the manufacturing sector is holding back home construction in some parts of the nation, although there is growth in rural and exurban areas.”
For complete more detailed information about NAHB Builder Confidence Index for September of 2019, please click HERE
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