Confidence at 16-Month High
May 30, 2005,
Washington — Confidence among the nation's home builders remained strong during April, approaching its highest level in the past 16 months, spurred by strong demand for new single-family homes and continued low mortgage rates.
“Builders have seen an uptick in traffic and sales brought on by improving economic conditions and mortgage rates that continue to remain at affordable levels,” said Dave Wilson, NAHB president. “They have confidence in the overall housing market and expect sales to stay strong for the next six months.”
The component of the index which gauges sales of single-family homes rose three points to a level of 76, and the component gauging sales expectations for the next six months came in with a reading of 77.