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Builder Confidence Perks Up After Three-Month Slide

The National Association of Home Builders (NAHB) and Wells Fargo said on Tuesday that builder confidence in the new home market ticked up two points on their Housing Market Index (HMII).  The May reading was 70, the fourth time this year the index has been at or above that point.  While May's number reversed a three-month decline, the level for April was revised down from. 69 to 68. "The solid May report shows that builders are buoyed by growing consumer demand for single-family homes," said NAHB Chairman Randy Noel.  

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