Fewer prospective buyers visit model homes in November
Continuing low mortgage rates and improving economic conditions are helping maintain a solid level of builder confidence in the market for new single-family homes, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index (HMI), released today.
The November HMI registered no discernible change in builder attitudes following an impressive four-point jump that brought the index in line with its highest level of the year, at 71, in October.
The component index gauging current single-family sales rose two points to 79 – its highest level of the year – in November. Meanwhile, the component index gauging sales expectations for the next six months and the component gauging traffic of prospective buyers each edged down two points, to 80 and 50, respectively
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