Builder confidence in the market for newly-built single-family homes shed one point to 70 in November, according to the latest National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI). The previous two months had the highest sentiment levels in 2019, according to an announcement on Monday.
“Single-family builders are currently reporting ongoing positive conditions, spurred in part by low mortgage rates and continued job growth,” states NAHB Chairman Greg Ugalde, a home builder and developer from Torrington, Conn. “In a further sign of solid demand, this is the fourth consecutive month where at least half of all builders surveyed have reported positive buyer traffic conditions.”