Building Industry Confidence Remains Strong

Home builder sentiment slipped some in a new April survey by the National Association of Home Builders and Wells Fargo, but industry confidence remains at healthy levels.

The NAHB’s HMI index came in at 68, down three points from March’s 11-year high. Industry sentiment is strong if the index is more than 50.

Sales expectations also slipped but remained strong.

Home builder stocks are up in Monday morning moves. That includes gains for Scottsdale-based Meritage Homes (NYSE: MTH). The Arizona builder is up 1.05 percent at $38.35, according to Google Finance.

Meritage is up 10.2 percent so far this year.

Mike Sunnucks writes about stocks and financial markets, real estate, government and sports business.

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