Homebuilder Confidence Index Reaches a 4-Year High


Because so much of Orange County, and California’s economy as a whole, relies on the housing market, it is always nice to pass along some good news from that front.  On Wednesday the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) was released with some upbeat news.

Homebuilder confidence rose to 29 from 25 on the HMI in February. It is the fifth consecutive month this measure has risen and it is at its highest level in more than four years.

"Builder confidence has doubled since September as measured by the HMI," said NAHB Chairman Barry Rutenberg, a home builder from Gainesville, Fla. "Given the recent improvements in new home starts and the increasing number of markets included in the NAHB/First American Improving Markets Index, this consistency suggests that the housing market is moving toward more sustainable growth."


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