For the first time in five months, the nation’s home builders felt more confident about conditions in the new home market. Current sales conditions were behind the improvement.
The Housing Market Index, a measurement of home builders’ current perceptions of single-family home sales and expectations, was 70 as of May.
When an index is more than 50, it means that there are more builders who view current conditions as good than those who view them as poor.
Source: Mortgage Daily