Homebuilder Confidence Posts Largest 1-Month Jump in a Decade

By Kerri Ann Panchuk

Homebuilder confidence rose six points in July, its steepest one-month increase in over a decade, according to a new report from the National Association of Home Builders.

The NAHB released the Housing Market Index that it compiled in tandem with Wells Fargo on Tuesday. The report shows the Home Price Index reaching its highest point since March 2007.

The key housing market index gained six points in July, increasing to 35. This is the largest one-month gain recorded by the index in nearly a decade, and brings the HMI to its highest point since March of 2007.

The index evaluates builders' perception of strength when it comes to single-family home sales in the United States.

Read the rest of this story at HousingWire.

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