The NAHB/Wells Fargo Housing Market Index (HMI) is a monthly survey that gauges builder perceptions of current single-family home sales and sales expectations for the next six months as “good,” “fair” or “poor.” The survey also asks builders to rate traffic of prospective buyers as “high to very high,” “average” or “low to very low." The survey has been conducted monthly for the last thirty years.

This month, several components of the HMI showed a slight uptick in numbers. Builder confidence rose two points from 58 to 60. Quoted in the NAHB weekly newsletter, Chief Economist Robert Dietz said, “Builder confidence remains solid in the aftermath of weak GDP reports that were offset by positive job growth in July. Historically low mortgage rates, increased household formations and a firming labor market will help keep housing on an upward path during the rest of the year.”

"New construction and new home sales are on the rise in most areas of the country, and this is helping to boost builder sentiment,” said NAHB Chairman Ed Brady.

Current sales and future sales expectations also saw a rise in numbers.

No doubt, Utah is leading the way in new construction and home sales.

What's your take on growth and construction in Utah? Are you able to keep up with demand? We'd like to hear from you!