Homebuilder confidence rises as strong demand counters supply chain constraints
Confidence rose 3 points to 83
Homebuilder confidence rose in November as low inventories and strong buyer demand helped boost confidence despite ongoing supply chain disruptions.
The National Association of Home Builders/Wells Fargo Housing Market Index this month rose three points to 83. Analysts surveyed by Refinitiv were expecting homebuilder sentiment to hold at 80.
The index can range between 0 and 100 with any print over 50 indicating positive sentiment. Any reading above 80 signals strong demand.
"The solid market for home building continued in November despite ongoing supply-side challenges," said NAHB Chairman Chuck Fowke. "Lack of resale inventory combined with strong consumer demand continues to boost single-family home building."
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