Builder confidence in September reached a level of 68 on the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index. The levels have remained in the mid- to upper 60s since May, and September’s levels are the highest since October 2018, according to NAHB. Builder confidence levels above 50 are considered indicators of a positive conditions.
“Solid household formations and attractive mortgage rates are contributing to a positive builder outlook,” NAHB Chief Economist Robert Dietz said in a statement. “However, builders are expressing growing concerns regarding uncertainty stemming from the trade dispute with China.” The trade war with China has resulted in a slowdown in the manufacturing sector, Dietz added.
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