MHProNews has learned the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) rose four points to 53 in July, indicating more single-family home builders than not have confidence in sales prospects. This survey, having been conducted by NAHB for 30 years, gauges builder perceptions of current prospects, current single-family home sales and expectations for the coming six months. MHProNews understands this jump marks the first time since January the HMI has been above 50. “An improving job market goes hand-in-hand with a rise in builder confidence,” said NAHB Chief Economist David Crowe. “As employment increases and those with jobs feel more secure about their own economic situation, they are more likely to feel comfortable about buying a home.” ##

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