US builder confidence boosted due to stable demand and an improved supply chain in June

Posted on June 23, 2023   |  

In June, for newly-built single-family homes, builder confidence in the market rose five points to 55, the 6th straight month boost in builder confidence since July 2022, and 25% of builders lowered home prices to bolster sales. 

The average price reduction was 7%, below the 8% rate in December 2022.

56% of builders offered buyers incentives slightly higher than in May but less than in December 2022.

All 3 big HMI (Housing Market Index) indices saw gains. The HMI index measuring present sales conditions rose 5 points to 61.

A 3-month moving average for regional HMI scores shows that the Northeast gained two points to 47, the Midwest gained four points to 43, the South increased 3 points to 55 and the West gained five points to 46.