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U.S. builders have become increasingly pessimistic on the state of housing as the monthly Housing Market Index (HMI) published by the National Association of Home Builders (NAHB) and Wells Fargo & Co (NYSE: WFC) dropped five points to an August reading of 75, its lowest level since July 2020. What Happened: The HMI measures builder perceptions of current single-family home sales and sales expectations for the next six months as either “good,” “fair” or “poor” while also measuring the traffic of prospective homebuyers as “high to very high,” “average” or “low to very low.
...read full article on Benzinga
