Posted To: MND NewsWire
The National Association of Home Builders (NAHB) said its Housing Market Index (HMI), which it sponsors jointly with Wells Fargo, suffered the largest monthly change in its more than 30-year history this month , plunging 42 points from March to a 30 reading. It was the lowest the index, which measures its member’s perceptions of the new home market, has been since June 2012 and the first time the index has fallen into negative territory (below 50) since June 2014. To construct its index, NAHB surveys its new home builder members, asking them for their perceptions of current single-family home sales and their expectations for those sales over the next six months as “good,” “fair” or “poor.” It also asks builders to grade current buyer traffic as “high to very high,” “average” or “low to very…(read more)
Source: Mortgage News Daily
