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“Builders are responding to what they perceive to be some of thebest home-buyingt conditions of a lifetime,” says Joe Robson, NAHB “You’re not likely to get a betteer deal in terms of mortgage rates than what’ss available right now. Combine that with the affordable prices, multitude of home choiceds and $8,000 tax credit for first-time buyera that are now available, and you have a very appealinvg set of reasons to make a The index rose two pointd to 16in May, which indicates home builders feel “we’r at or near the bottom of the market and that positive signs lie ahead for builders and potential home buyers, providec that builder access to production credit significantlh improves,” NAHB Chief Economist Davisd Crowe says.
The HMI gauges builderr perceptions ofcurrent single-family home sales and sales expectationas for the next six months as “fair” or “poor.” It also asks buildersx to rate traffic of prospective buyerw as “high to very high,” or “low to very low.” The May indec gauging current sales conditions was up two pointxs to 14. The index gauging sales expectations for the next six monthw rose three pointsto 27. The indesx gauging traffic of prospective buyers remaines unchangedat 13. Regionally, the Northeasy posted a three-point gain in its HMI to 18.
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