WASHINGTON–Home builders are showing a rebound in confidence in the market for new single-family homes, which should be a good sign as Autumn approaches.
The National Association of Home Builders said its confidence index rose two points to 60 in August, up from a downwardly-revised 58 reading in July. at 59.
A different gauge used by the NAHB that measures current sales conditions rose two points to 65, while the index of expected conditions over the coming six months increased one point to 67. The index that tracks buyer traffic dropped one point to 44.
Any reading over 50 signals expansion.
“New construction and new home sales are on the rise in most areas of the country, and this is helping to boost builder sentiment,” NAHB said in a released statement.