Builder Confidence Rises Five Points in May

Builder confidence levels jumped five points in May to a level of 50 on the National Association of Home Builders/Wells Fargo Housing Market Index.

It’s the fifth consecutive month of builder confidence increases and the first time builder confidence levels have reached 50 since July 2022.

“Lack of existing inventory continues to drive buyers to new construction,” NAHB Chief Economist Robert Dietz said in a statement.

Builder confidence levels above 50 indicate more builders view housing market conditions as “good” than “poor.”