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U.S. Home Builder Confidence Soars

An index of builder confidence in the market for new single-family homes rose by four points to a seasonally adjusted level of 58 this month, according to Tuesday's reports from the National Association of Home Builders.

 

To put this into context, a reading over 50 means most builders view market conditions to be positive. The index jumped in September to 59, its highest reading since November 2005, then fell to 54 in October. Economists surveyed by The Wall Street Journal expected the index would tick up to 55 in November.

 

There has been a steady housing recovery, with the index remaining above the 50-point mark for five consecutive months. Contributing factors include low interest rates, affordable home prices and low unemployment rates. Essentially, what these numbers signify is that the housing market continues to show encouraging signs of growth.

 

What do you think of this trend? Do you believe this will have a lasting effect? Comment below and let us know your thoughts.



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