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4/16, 4:04 PM (Source: TeleTrader.com)
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NAHB housing market index lower at 69 in April

Builder confidence in the United States for the newly built single-family homes stood at 69 in April, according to the National Association of Home Builders (NAHB) Housing Market Index (HMI) released on Monday. The figure marks a one point drop, compared the previous month.

The HMI measuring buyer traffic was unchanged at 51, while the six-month sales expectations showed a one point drop to 77. Meanwhile, current sales conditions fell two points to 75. Regional HMI for the three-month moving averages were slightly down, with West dropping the most, three points lower to reach 75.

"Ongoing employment gains, rising wages and favorable demographics should spur demand for single-family homes in the months ahead," according to NAHB Chief Economist Robert Dietz.

Breaking the News / BM