In April, with the spring building season getting underway, builder confidence in the market for newly built single-family homes went up four points to 56 on the National Association of Home Builders Housing Market Index.
All three of the components that comprise the HMI saw gains in April. Sales expectations in the next six months rose five points to 64 (the highest this year), buyer traffic grew by four points to 41 and current sales conditions increased by three points to 61.
"This uptick shows builders are feeling optimistic that the housing market will continue to strengthen throughout 2015,” said NAHB Chief Economist David Crowe in a statement.
Regionally, the HMI in the South went up one point to 56 while the Northwest stayed the same at 42. The Midwest and the West decreased two points to 54 and three points to 58, respectively.
A number over 50 signifies that more builders are confident than are not confident.
