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Builder Optimism Pulls Back From 'Unusually High' October

Tuesday, November 17, 2015

Well that didn't last long.  After jumping to the highest level in a decade in October the Housing Market Index (HMI) a measure of builder confidence in the new home market, dropped three points this month.  The National Association of Home Builders said the composite HMI it sponsors jointly with Wells Fargo, had a 62 reading compared to an upwardly revised 65 last month.

"Even with this month's drop, builder confidence has remained in the 60s for six straight months - a sign that the single-family housing market is making long-term headway," NAHB Chairman Tom Woods said. "However, our members continue to voice concerns about the availability of lots and labor."

 

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