US home builder confidence increases in November - Breaking The News

US home builder confidence increases in November

18 November

1 min read

Builder confidence in the United States for newly-built single-family homes rose in November according to a report published by the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) on Monday.

This month's figure stood at 46, up three points compared to the previous reading, marking an increase for the third month straight. The current sales conditions index increased by two points to land at 49 while the sales expectation index went up seven points to 64. The traffic of prospective buyers posted a three-point gain to 32.

"While builder confidence is improving, the industry still faces many headwinds such as an ongoing shortage of labor and buildable lots along with elevated building material prices," NAHB Chairman Carl Harris said.

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