NAHB Chief Economist David Crowe said, “The HMI component index measuring future sales expectations rose five points in April to its highest level of the year. This uptick shows builders are feeling optimistic that the housing market will continue to strengthen throughout 2015.”
Based on a survey that has been conducted for 30 years, the index measures current single-family home sales, sales expectations for the next six months, and traffic of prospective home buyers. Regionally, gauging the three month moving index for HMI scores, the South rose a point to 56, the Northwest remained at 42, the Midwest dropped two points to 54, while the West fell three points to 58. ##
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