The HMI is derived from a monthly survey of builders that NAHB has been conducting for nearly 20 years.
The survey asks builders to rate their current sales of single-family homes and their sales expectations as good, fair or poor. They are also asked to rate traffic of prospective buyers as high to very high, average or low to very low.
All of the HMI’s components have registered substantial gains in August.
The current sales activity component rose eight points, to 77; sales expectations rose four points to 78; and the gauge of prospective buyers climbed four points to 55.
Any number over 50 indicates that more builders view sales conditions as good than poor.
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