January shows a sustained increase in US builder confidence levels

Posted on January 22, 2024   |  

In January, confidence among builders for new single-family homes rose by 7 points, reaching a score of 44, the 2nd straight monthly increase in the Home Builder Confidence Index (HMI).

All three significant HMI indices showed improvements, the index measuring current sales conditions grew by 7 points to 48. 

The component assessing sales expectations in the next 6 months saw a substantial 12-point jump to 57, and the component gauging the traffic of potential buyers rose by 5 points to 29.

Analyzing the three-month averages for regional HMI scores, the Northeast saw a 4-point increase, reaching a score of 55. 

The Midwest remained steady at a score of 34. The South witnessed a 2-point increase to a score of 41, and the West saw a 1-point rise, reaching a score of 32.