Housing Market Index (HMI) collapses six points to 34 in May.

“Builder confidence in the market for newly built single-family homes was 34 in May, down six points from April, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) released today. This ties the November 2023 reading, and is the lowest since the index hit 31 in December 2022.”