U.S. builder confidence for newly constructed single-family houses climbed to a score of 55 on the National Association of Home Builders/Wells Fargo Housing Market Index this month, according to a report released today. The two-point month-over-month increase marks a gain for the third-straight month.
The index is now at the highest level since January, the report showed.
“As the employment picture brightens, builders are seeing a noticeable increase in the number of serious buyers entering the market,” Kevin Kelly, chair of the National Association of Home Builders, said in a statement. “However, builders still face a number of challenges, including tight credit conditions for borrowers and shortages of finished lots and labor.”
A score exceeding 50 means that more builders consider conditions to be good rather than poor. — Mark Maurer