Home Builder Confidence Edges Down in December

Washington, DC, Dec. 15, 2014 -- Following a four-point uptick last month, confidence among single-family home builders fell one point in December to 57 on the National Association of Home Builders/Wells Fargo Housing Market Index.

“After a sluggish start to 2014, the HMI has stabilized in the mid-to-high 50s index level trend for the past six months, which is consistent with our assessment that we are in a slow march back to normal,” said NAHB Chief Economist David Crowe.

“As we head into 2015, the housing market should continue to recover at a steady, gradual pace.”

Two of the three HMI components posted slight losses in December. The index gauging current sales conditions fell one point to 61, while the index measuring expectations for future sales dropped a single point to 65 and the index gauging traffic of prospective buyers held steady at 45.