Sentiment levels have held in the mid- to upper 60s since May, and September’s reading matches the highest level since last October.
Builder confidence in the market for newly built single-family homes rose one point to 68 in September from an upwardly revised August reading of 67, according to the latest National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI). Sentiment levels have held in the mid- to upper 60s since May, and September’s reading matches the highest level since last October.
“Low interest rates and solid demand continue to fuel builders’ sentiments even as they continue to grapple with ongoing supply-side challenges that hinder housing affordability, including a shortage of lots and labor,” said Greg Ugalde, NAHB chairman and a home builder and developer from Torrington, Conn.