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Builders’ Sentiment at Highest Level Since 2005

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Builders’ Sentiment at Highest Level Since 2005

The September NAHB/Wells Fargo Housing Market Index, issued by the National Association of Home Builders, showed that builders’ sentiment increased by four points to 59, the highest reading since late 2005. A large percentage of builders surveyed commented on potential homebuyers’ growing interest based off higher traffic in their models and an increased number of phone calls.

In fact, the traffic measure went up to 47 from a 42 in August, the highest since October 2005. Indexes measuring future and current sales also increased two and five points respectively to numbers not seen since 2013. Lastly, the three-month moving averages in all four regions increased: Northeast was up three points to 41, the Midwest was up five points to 59, the South rose four points to 56 and the West rose two points to 58.

Read the full article from NAHB here.

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