Builder confidence for single-family, newly-built homes rose four points to 49, one point shy of the mark for what is considered “good” building conditions. According to the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). The result of a monthly survey NAHB has been conducting for 30 years, the Index gauges builders perceptions of current single-family home sales, expectations for the coming six months and traffic of prospective buyers. “Consumers are still hesitant, and are waiting for clear signals of full-fledged economic recovery before making a home purchase,” said NAHB Chief Economist David Crowe. “Builders are reacting accordingly, and are moving cautiously in adding inventory.” MHProNews has learned regionally, considering the three-month moving averages, the South and Northeast each gained a point, while the West remained steady and the Midwest lost one point. ##

(Photo credit: housingwire.com–new home construction)