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WASHINGTON D.C. ?EUR??,,????'??+ A drop in mortgage rates and a rise in consumer confidence helped to stabilize the confidence and market expectations of single-family home builders, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index. The index was reported at 57 for the second month in a row following a six-month slide from peak levels in mid-2005, and indicates that the majority of builders still see conditions as positive in their markets. ?EUR??,,????'??Housing markets across the country have cooled, as predicted, and builders are aware that some slowing in demand is inevitable following the record breaking sales for the past three years,?EUR??,,????'?? said NAHB President David Pressly. Derived from a monthly survey that NAHB has been conducting for approximately 20 years, the NAHB/Wells Fargo HMI gauges builder perceptions of current single-family home sales and sales expectations for the next six months as either ?EUR??,,????'??good,?EUR??,,????'?? ?EUR??,,????'??fair?EUR??,,????'?? or ?EUR??,,????'??poor.?EUR??,,????'?? The survey also asks builders to rate traffic of prospective buyers as either ?EUR??,,????'??high to very high,?EUR??,,????'?? ?EUR??,,????'??average?EUR??,,????'?? or ?EUR??,,????'??low to very low.?EUR??,,????'?? Scores for each component are then used to calculate a seasonally adjusted index where any number over 50 indicates that more builders view sales conditions as good than poor. ?EUR??,,????'??Single-family housing affordability has been eroded by the accumulation of large house price increases in recent years, but some softening of long-term interest rates since the early-December survey helped to buoy builder attitudes,?EUR??,,????'?? said NAHB Chief Economist David Seiders. Builder confidence was down across three regions of the country. In the West, the HMI fell from 75 in December to 65 in January, while in the South, the HMI dropped down a point to 66. In the Northeast, the gauge slipped three points to 56, while in the Midwest, the HMI increased from 34 to 36.
The index was reported at 57 for the second month in a row following a six-month slide from peak levels in mid-2005, and indicates that the majority of builders still see conditions as positive in their markets.
?EUR??,,????'??Housing markets across the country have cooled, as predicted, and builders are aware that some slowing in demand is inevitable following the record breaking sales for the past three years,?EUR??,,????'?? said NAHB President David Pressly.
Derived from a monthly survey that NAHB has been conducting for approximately 20 years, the NAHB/Wells Fargo HMI gauges builder perceptions of current single-family home sales and sales expectations for the next six months as either ?EUR??,,????'??good,?EUR??,,????'?? ?EUR??,,????'??fair?EUR??,,????'?? or ?EUR??,,????'??poor.?EUR??,,????'?? The survey also asks builders to rate traffic of prospective buyers as either ?EUR??,,????'??high to very high,?EUR??,,????'?? ?EUR??,,????'??average?EUR??,,????'?? or ?EUR??,,????'??low to very low.?EUR??,,????'?? Scores for each component are then used to calculate a seasonally adjusted index where any number over 50 indicates that more builders view sales conditions as good than poor.
?EUR??,,????'??Single-family housing affordability has been eroded by the accumulation of large house price increases in recent years, but some softening of long-term interest rates since the early-December survey helped to buoy builder attitudes,?EUR??,,????'?? said NAHB Chief Economist David Seiders.
Builder confidence was down across three regions of the country. In the West, the HMI fell from 75 in December to 65 in January, while in the South, the HMI dropped down a point to 66. In the Northeast, the gauge slipped three points to 56, while in the Midwest, the HMI increased from 34 to 36.
Francisco Uviña, University of New Mexico
Hardscape Oasis in Litchfield Park
Ash Nochian, Ph.D. Landscape Architect
November 12th, 2025
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