The NAHB/Wells Fargo Housing Market Index ranges from 0 to 100, with 50 being the tipping point to mark where more builders are experiencing good market conditions than otherwise. For August, this index has increased to 59, which is the highest score in almost 8 years. Since June, the index has been above 50, showing largely good market conditions for builders. The current sales component of the index rose three points to 62 while the expected sales component rose to 68, both also among the highest scores in the last 8 years despite rising mortgage rates.
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