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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
"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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