On May 15, 2020, National Association of Home Builders/Wells Fargo Housing Market Index (HMI) for newly built single family homes gained 7 points to 37 points in May of 2020 from 30 points in April of 2020.
The HMI component charting buyer traffic increased eight points to 21 points, the HMI present sales conditions up six points to 42 points, and the HMI sales expectations index higher ten points to 46 points in May of 2020.
The three-month moving averages for regional HMI scores, Northeast down two points to 17 points, Midwest soar seven points to 32 points, South gained eight points to 42 points, the West jumped 12 points to 44 points in May of 2020.
NAHB Chief Economist Robert Dietz, stated “As many states and localities across the nation lift stay-at-home orders and more furloughed workers return to their jobs, we expect this demand will strengthen. Other indicators that suggest a housing rebound include mortgage application data that has posted four weeks of gains and signs that buyer traffic has improved in housing markets in recent weeks. However, high unemployment and supply-side challenges including builder loan access and building material availability are near-term limiting factors.”
For complete more detailed information about NAHB Builder Confidence Index for May of 2020, please HERE
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