Today, the National Association of Home Builders (NAHB) released their latest Housing Market Index (HMI) showing a decline of all measures in April with the composite HMI index falling to 25 while the "buyer traffic" index declined to 18.While all indicators have made notable increases as of late, it's important to note that conditions still remain distressed by historic standards though, the last few months results appears to indicate a major change in the builder sentiment.
The new home market will likely not resume any significant form of healthy function until the considerable overhang of inventory is cleared.
