After four straight months of m/m declines, homebuilder sentiment finally saw a bounce this month, rising from a six-month low of 68 last month to 70 in May. While homebuilder sentiment is still pretty well off its highs from December, the trend of higher highs and higher lows remains intact.
The table below breaks down this month’s report by present and future sales, traffic, and region. All of this month’s improvement in the headline reading came from a jump in Present Sales, while Future Sales and Traffic were both unchanged. On a regional basis, sentiment in the Midwest saw a big jump, was unchanged in the Northeast and saw slight declines in both the South and West.