The National Association of Home Builders/Wells Fargo Housing Market Index fell to 68 in April, a three point decrease from March’s reading of 71.
“Even with this month’s modest drop, builder confidence is on very firm ground, and builders are reporting strong interest among potential home buyers,” said NAHB Chairman Granger MacDonald, a home builder and developer from Kerrville, Texas.
All three HMI components declined in April, but remained at healthy levels. The component measuring current sales conditions fell three points to 74, the component measuring sales expectations decreased three points to 75, and the component measuring buyer traffic fell one point to 52.
The regional three-month moving averages for HMI scores were mixed. The Northeast fell two points to 46 while the Midwest and West rose one point to 68 and 77, respectively. The South held steady at 68.
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