According to the National Association of Home Builders (NAHB), builder confidence rose two points in January, continuing an upward trend that began in the final quarter of 2006. The Housing Market Index (HMI) is now at its highest level since July.
Derived from a monthly survey that NAHB has been conducting for 20 years, the index gauges builder perceptions of current sales and sales expectations for the next six months. The survey also asks builders to rate traffic of prospective buyers through their model homes and open houses.
Weichert News - 01/2007
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