National builder confidence in the market for newly built, single-family homes increased by 2 points to 21 on the National Association of Home Builders/Wells Fargo Housing Market Index for December, released today, marking a third consecutive month in which builder confidence has improved. Confidence was higher than it has been since May 2010, according to the report.
Despite overall gains in confidence, confidence dropped in Northeast, slipping by one point to 15. Gains were primarily made in the South in December, where a 4-point gain to 25 brought that region’s Housing Market Index score to its highest level since March of 2008. A 1-point gain to 16 was registered in the West, while the Midwest was unchanged at 24. – Katherine Clarke [more]