Builder confidence in the market for newly-built single-family homes was unchanged in November, staying at 63 on the National Association of Home Builders Housing Market Index.
The HMI consists of three components: Buyer traffic rose one point to 47, current sales conditions stayed at 69 and sales expectations fell two points to 69.
"Ongoing job creation, rising incomes and attractive mortgage rates are supporting demand in the single-family housing sector,” said NAHB Chief Economist Robert Dietz. “This will help keep housing on a steady, upward glide path in the months ahead.”
The Northeast, Midwest and West saw HMI gains of two points to 45, 58 and 77, respectively. The South’s HMI score remained unchanged at 66.
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