Builder confidence fell 1 point in November to a level of 70 on the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index. The past two months have seen the highest sentiment levels in 2019, according to NAHB.
“Single-family builders are currently reporting ongoing positive conditions, spurred in part by low mortgage rates and continued job growth,” NAHB Chairman Greg Ugalde stated.
However, home builders continue to see issues with lot shortages and affordability concerns, NAHB Chief Economist Robert Dietz said.
Builder confidence levels over 50 are considered positive, according to NAHB.
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