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Confidence Still Rising

The National Association of Home Builders released a report recently looking at the sales of new single-family homes. In October, sales were up 0.7 percent from September’s numbers, according to data from the U.S. Census Bureau and the Department of Housing and Urban Development. The inventory of homes in this category also rose to 212,000 in October, bringing with it an increase in builder confidence as well.

The latest NAHB/ Wells Fargo Housing Market Index from November saw an increase in single-family builder sentiment to 58, up four points. Experts say this gain was the result of promising long-run trends. November also marked the fifth month in a row where the HMI reading came in above 50, the tipping point for “normal” on the scale. All three components of the index (current sales, expected sales and buyer traffic) posted gains in November.

Read the full article from NAHB here.

 

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