Builder confidence in the market for newly-built single-family homes increased five points to a level of 74 in December on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) after a downwardly revised November reading. This was the highest report since July 1999, over 18 years ago. “Housing market conditions are improving partially because of new policies aimed at providing regulatory relief to the business community,” said NAHB Chairman Granger MacDonald, a home builder and developer from Kerrville, Texas. “The HMI measure of home buyer traffic rose eight points, showing that demand for ... (full story)

Confidence among the nation's homebuilders jumped unexpectedly in December on expectations of a stronger economy. A monthly reading of homebuilder sentiment rose five points to 74. This is the highest reading since 1999. Fifty is the line between positive and negative sentiment on the National Association of Home Builders' index. November's reading was revised lower by one point. Sentiment stood at 69 in December of 2016. "Housing market conditions are improving partially because of new policies aimed at providing regulatory relief to the business community," said NAHB Chairman Granger MacDonald, a home builder ... (full story)