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Builder confidence remains solid in February

February 21st, 2020
by International Code Council
  • Quick Hits

Builder confidence in the market for newly built, single-family homes edged one point lower to 74 in February, according to the latest National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) released on Feb. 18, 2020. The last three monthly readings mark the highest sentiment levels since December 2017.

Derived from a monthly survey that NAHB has been conducting for 30 years, the NAHB/Wells Fargo HMI gauges builder perceptions of current single-family home sales and sales expectations for the next six months as “good,” “fair” or “poor.” The survey also asks builders to rate traffic of prospective buyers as “high to very high,” “average” or “low to very low.” Scores for each component are then used to calculate a seasonally adjusted index where any number over 50 indicates that more builders view conditions as good than poor.

The HMI index gauging current sales conditions fell one point to 80, the component measuring sales expectations in the next six months was one point lower at 79 and the gauge charting traffic of prospective buyers also decreased one point to 57. Looking at the three-month moving averages for regional HMI scores, the Northeast rose one point to 63, the Midwest increased one point to 67 and the South moved two points higher to 78. The West fell one point to 83.

Read the full article on NAHBNow.

About the Author
International Code Council
The International Code Council is a nonprofit association that provides a wide range of building safety solutions, including product evaluation, accreditation, certification, codification and training. It develops model codes and standards used worldwide to construct safe, sustainable, affordable and resilient structures.
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