The nation’s homebuilders see conditions as good, but their confidence varies greatly from region to region, according to data released Monday by the National Association of Home Builders.
The NAHB’s Housing Market Index, a measure of builder confidence in “current single-family home sales and sales expectations for the next six months,” according to the NAHB’s press release, dropped 2 points to 53. An HMI of 50 or above means that “more builders view conditions as good than poor,” the release said. The index had crested at 58 in late 2014 and has not broken 60 since late 2005. During the depths of the recent economic crisis, in early 2009, it bottomed out at just 8.
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The general confidence in market conditions depended, the release said, on which regions builders were asked about. The South, Midwest, and West ranked much higher than the Northeast, which dropped 2 points to 43, which is perhaps unsurprising given the record-setting storms that have battered the region this winter.
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