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Homebuilders' confidence reached 68 points in September, up from 67 revised August, according to the report. National Association of Home Builders/Wells Fargo Housing Market Index.
According to the index, the September level marks the highest level of reading since October of last year.
"Low interest rates and strong demand continue to fuel builders' sentiments, even as they continue to face the ongoing supply-side challenges that hinder the affordability of housing, including a shortage of lots. and labor, "said NAHB President Greg Ugalde.
In September, the index measuring the current sales conditions rose from 73 to 75 points, while buyers' traffic remained unchanged at 50. However, expectations for the next six months have dropped from one to one. point to 70.
"Strong household composition and attractive mortgage rates help optimize builders' prospects," said Robert Dietz, Chief Economist, NAHB. "However, the builders are expressing their growing concern about the uncertainties associated with the trade dispute with China. NAHB's residential construction index indicates that the slowdown in the manufacturing sector is holding back home construction in some parts of the country, although there is growth in rural and peri-urban areas. "
That being said, the three-month moving averages for the regional HMI scores show that the Northeast rose from 57 to 59 points, the South by one point from 69 to 70, the West by two points to 75 and the Midwest at 57 points.
NOTE: The NAHB / Wells Fargo Housing Market Index measures builders' opinions on sales and expectations of single-family homes, asking for a good, fair or poor rating. Builders are also asked to rate the traffic of potential buyers from very low to very high. The scores are used to calculate a seasonally adjusted index with a score of 50 or higher indicating a positive feeling.
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