Builder confidence in the market for newly constructed single-family homes increased two points in June to 60 on the National Association of Home Builders Housing Market Index.
The HMI consists of three components, and all reported increases in June: Current sales conditions rose one point to 64, sales expectations in the next six months increased five points to 70 and buyer traffic climbed three points to 47.
"Rising home sales, an improving economy and the fact that the HMI gauge measuring future sales expectations is running at an eight-month high are all positive factors indicating that the housing market should continue to move forward in the second half of 2016," said NAHB Chief Economist Robert Dietz.
Regional HMI scores were: the South, up two points to 61; the West, up one point to 68; the Northeast, down two points to 39; and the Midwest, down one point to 57.
