Homebuilder Blues: NAHB/Wells Fargo Home Builder Ratings June 2012

Today, the National Association of Home Builders (NAHB) released their latest Housing Market Index (HMI) showing an overall improvement in June with the composite HMI index rising to 29 while the "buyer traffic" index went flat at 23.

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.