Builder confidence climbed to a level of 85 in October, toppling September’s record-setting confidence level of 83. The past two months represent the first time the index has been over 80, according to the National Association of Home Builders. Levels above 50 on the index are considered positive market indicators. The monthly NAHB survey began in 1985.
Builder confidence climbed to a level of 85 in October, toppling September’s record-setting confidence level of 83. The past two months represent the first time the index has been over 80, according to the National Association of Home Builders. Levels above 50 on the index are considered positive market indicators. The monthly NAHB survey began in 1985.
"The housing market continues to be a bright spot for the economy, supported by increased buyer interest in the suburbs, exurbs and small towns," NAHB Chief Economist Robert Dietz said in a statement.
NAHB warned that although confidence levels continue to set records, shortages of lots, labor, lumber and other building materials are posing challenges and lengthening construction times.
