Looking at the three-month moving averages for regional HMI scores, the Northeast posted a three-point gain to 51, the Midwest increased two points to 53, and the South was up one point to 67.
Builder confidence in the market for newly built single-family homes rose one point to 63 in April, according to the latest National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI). Sentiment levels have held in the low 60s for the past three months.
“Builders report solid demand for new single-family homes but they are also grappling with affordability concerns stemming from a chronic shortage of construction workers and buildable lots,” said Greg Ugalde, NAHB chairman and a home builder and developer from Torrington, Conn.