Builder confidence increased for a second consecutive month in October on positive economic indicators including gradually easing inflation and anticipation of moderating mortgage rates. Challenging affordability conditions remain, however.
According to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI), builder confidence for newly-built single-family homes was 43 in October, up 2 points from 41 in September.
"While housing affordability remains low, builders are feeling more optimistic about 2025 market conditions," said NAHB chairman Carl Harris. "The wild card for the outlook remains the election, and with housing policy a top tier issue for candidates, policymakers should be focused on supply-side solutions to the housing crisis."
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