A surge in homebuilders' confidence this month for new home demand could indicate the housing market will contribute to a post-Covid economic recovery, according to new data from the National Association of Home Builders
Builder confidence in the market for new, single-family homes jumped 14 points to 72 in July, according to the Housing Market Index from the NAHB and Wells Fargo.
The index, based on a monthly survey that NAHB has conducted for 30 years, now stands at the pre-pandemic level from March, before the outbreak affected the national economy. The March score of 72 was followed by a sharp drop in the index to 30 in April. Any index number over 50 indicates that more builders view conditions as good than poor.
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Meredith Hobbs
Meredith Hobbs writes about the Atlanta legal community and the business of law. Contact her at [email protected] or 404.419.2837. On Twitter: @MeredithHobbs.
