Market outlook, housing index

By Staff -- Purchasing, 7/15/1999

National Association of Home Builders' Housing Market Index (HMI) rose one point to 77 in June, the second-highest score ever attained and just under its 78 peak in November-December 1998. The index reflects builders' assessments of current sales, expected sales, and customer traffic. "Home builders remain very optimistic about their prospects for home sales in the present and near-term," says Charlie Ruma, president of the trade group.

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