WASHINGTON — Builder confidence in the market for newly built, single-family homes improved significantly in April as consumers rushed to take advantage of homebuyer tax credits set to expire at the end of the month, according to results of the latest National Association of Home Builders/Wells Fargo Housing Market Index (HMI), released today. The HMI surged four points to 19 in April, its highest level since September of 2009.
"Home builders reported some real improvement in current sales activity and traffic of prospective buyers through their model homes over the past month," said NAHB Chairman Bob Jones, a home builder from Bloomfield Hills, MI. "While we remain cautious about what future months will bring, it's great to have this positive momentum at the start of the spring home buying season."
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