Builders Remain Upbeat in April

Strong demand for new single-family homes is helping buoy builder confidence as the market heads into the late spring selling season, according to the latest National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI), released recently.

The April HMI edged down by three points to 67 but remained within the strong 67-71 confidence range that builders have held throughout the past 14 months.

"Builders continue to express confidence in the overall housing market and expect sales to remain strong during the next six months,"said NAHB president Dave Wilson, a custom home builder from Ketchum, Idaho.

The component index gauging current single-family sales remained at a solid 73 while the component index gauging sales expectations for the next six months and the component gauging traffic of prospective buyers were 76 and 50, respectively.

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