Builder Confidence Reaches 12-Year High in March

The National Association of Home Builders/Wells Fargo Housing Market Index rose to 71 in March, a six point increase from February’s reading of 65.

“Builders are buoyed by President Trump’s actions on regulatory reform, particularly his recent executive order to rescind or revise the waters of the U.S. rule that impacts permitting,” said NAHB Chairman Granger MacDonald, a home builder and developer from Kerrville, Texas.

All three HMI components increased in March. The component measuring current sales conditions rose seven points to 78, the component measuring sales expectations increased five points to 78, and the component measuring buyer traffic rose eight points to 54.

The regional three-month moving averages for HMI scores were mixed. The Northeast fell one point to 48 and the Midwest rose three points to 68. The South increased one point to 68 and the West fell three points to 76.

Read the NAHB release.