Builder Confidence Rockets Higher in June

According to the latest National Association of Home Builders (NAHB) / Wells Fargo Housing Market Index (HMI) for June, builders’ confidence in the market for newly built single-family homes increased to 21 points to a reading of 58. Coming off its largest single month decline in the history in April and a modest improvement in May, June’s confidence surge suggests that housing is prepared to help lead the post COVID-19 pandemic economic recovery. Any reading above 50, indicates that builders view the prospect for building as positive.