Following a monthly decline in confidence, the outlook among the country’s home builders grew more optimistic. Expectations for the next six months drove the increase.

The Housing Market Index, which is a gauge of how home builders view the single-family market, was 70 for the month of May.

Any number that is more than 50 is an indication that there are more home builders who view conditions as good than who see them as poor.

Source: Mortgage Daily