Builder confidence in the market for newly-built single-family homes was 46 in November, up three points from October, according to the National Association of Home Builders /Wells Fargo Housing Market Index.
“With the elections now in the rearview mirror, builders are expressing increasing confidence that Republicans gaining all the levers of power in Washington will result in significant regulatory relief for the industry that will lead to the construction of more homes and apartments,” NAHB Chairman Carl Harris said in a statement.
For the three-month moving averages for regional HMI scores, the Northeast increased four points to 55, the Midwest increased three points to 44, the South increased one point to 42 and the West remained at 41.
Index levels below 50 indicate more builders view market conditions as “poor” than “good.”
Read the full report here.
