Builder confidence for newly built, single-family homes declined to 16 in April after rising to 17 in March, according to the National Association of Home Builders/Wells Fargo Housing Market Index (HMI).
Two of the three HMI component indexes registered declines in April, with the components gauging current sales conditions and home sales expectations for the next six months declining one point to 16 and three points to 23, respectively. The component gauging traffic of prospective buyers, however, rose one point to 13, marking its highest level since June 2010, according to the report.
Regionally, the South declined four points to 15; the Northeast and Midwest each registered two-point gains to 20 and 14, respectively; and the West, which includes California, remained flat at 17.
Source: National Association of Home Builders
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