Builder Confidence Remains Solid in October
Builder confidence in the market for newly constructed single-family homes remained on firm ground in October, declining two points to a level of 63 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI).
Despite the decline, the HMI now stands at its second-highest level in 2016, a sign that the housing recovery continues to make solid progress. However, builders in many markets continue to express concerns about shortages of lots and labor. Mortgage rates remain low and the HMI index measuring future sales expectations has been over 70 for the past two months. These factors will sustain continued growth in the single-family market in the months ahead.
Click here to read more.