Builder Confidence Hits 8-Month High

NAHB’s Dietz: “We should see continued upward movement of the single-family housing market as we close out 2017.”

WASHINGTON, DC—Builder confidence in the market for newly-built single-family homes has hit an eight-month high, the National Association of Home Builders said Thursday. National Association of Home Builders/Wells Fargo Housing Market Index rose two points to reach 70 for November, the second-highest level on record since July 2005.

“Demand for housing is increasing at a consistent pace, driven by job and economic growth, rising homeownership rates and limited housing inventory,” says Robert Dietz, chief economist with NAHB. “With these economic fundamentals in place, we should see continued upward movement of the single-family housing market as we close out 2017.”