Builder Confidence Surges; Buyers "Serious and Committed"

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Posted To: MND NewsWire

Builder's demonstrated the highest confidence in the market for newly built homes in nearly a year this month as the Housing Market Index (HMI) published by the National Association of Home Builders and Wells Fargo Bank sprung to a five point gain. Two of the HMI's component indices reached the highest levels in nearly a decade . The HMI rose to 59, the highest reading since September 2014 in June as builders, according to NAHB Chairman Tom Woods, reported "more serious and committed buyers at their job sites." This is reflected, Woods said "in recent government data showing that new-home sales and single-family construction are gaining momentum." "The HMI indices measuring current and future sales expectations are at their highest levels since the last quarter of 2005, indicating a growing...(read more)

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Source: http://www.mortgagenewsdaily.com/06152015_nahb_builder_confidence.asp

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