Market update June 15, 2015: Homebuilder confidence, California sales and more

National Association of Home Builders/Wells Fargo Housing Market Index (HMI) shows:

• Builder confidence in the market in June hit its highest level since September 2014.
• The index registered a score of 59 in June, up five points from May. (A score over 50 indicates more builders view conditions as good than poor.)
• The component gauging current sales conditions leaped seven points to 65.
• The component gauging sales expectations jumped six points to 69.
• The component gauging buyer traffic rose four points to 44.

The California Association of Realtors (CAR) reported that existing-home sales were down in May:

• Sales for existing single-family homes totaled 423,360 in May on a seasonally adjusted annualized rate.
• May sales were down 1.1 percent from April 2015 (see infographic below) but up 8.9 percent from May 2014.
• The statewide median home price for May was $485,380, up 0.8 percent from April 2015 and up 4.4 percent from May 2014.
• CAR indicated that the available housing supply is still low, with 3.5 months of inventory available.

The Canadian Real Estate Association posted national home sales activity for May 2015:

• National home sales rose 3.1 percent from April 2015 to May 2015.
• The MLS home price index rose 5.17 percent from May 2014 to May 2015.
• The national average sales price rose 8.1 percent year over year in May.

WalletHub released its list of the best and worst cities for families:

Email market updates to press@sandbox.inman.com.