The NAHB/Wells Fargo Housing Market Index for June increased to 59, a five point rise from May and tied for the highest since September 2014.
Credit: NAHB
NAHB states the increase in builder confidence aligns with other recent positive housing news. Nationally, April starts and permits were up significantly from March. Single-family starts rose 16.7% from March and were the highest monthly level since January 2008. Single-family permits also rose 3.7% in April. New home sales rebounded in April to a 517,000 annual rate and the year-to-date total is 23% ahead of 2014. Purchase mortgage applications have been increasing.
On top of that, the last two quarters of data show a strong increase in household formations. Which of course means more homes are needed.
