Builders, Realtors Differ on Home Sale Climate

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Posted To: MND NewsWire

While they were discussing different vintages, home sellers have a slightly more upbeat outlook on home sales then do the builders of those homes. Lawrence Yun, Chief Economist of the National Association of Realtors® told Association members late last week that he expects this will be the best year for existing home sales since 2006 but the index measuring builder confidence about new home sales dropped this month. The National Association of Homebuilders/Wells Fargo Housing Market Index (HMI) released today was down 2 points from April as new home builders expressed disappointment in both current sales condition and buyer traffic. The HMI composite was at 54 in May compared to 45 in May 2014 but it has been a roller-coaster year in which the index has varied over a 14 point range. "Despite...(read more)

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Source: http://www.mortgagenewsdaily.com/05182015_nahb_builder_confidence.asp

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