- Homebuilder sentiment rose to 83 on the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI).
- Current sales conditions rose 3 points to 89. Buyer traffic also increased 3 points to 68. Sales expectations in the next six months were unchanged at 84.
- Not only are builders still experiencing supply chain disruptions and a massive labor shortage, they also can't find enough land on which to build.
Higher prices and longer wait times do not appear to be turning buyers away from the nation's homebuilders. With demand still surging, homebuilder confidence in the market for single-family homes rose more than expected in November, to the highest level since last May.
Confidence rose 3 points to 83 on the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI). Anything above 50 is considered positive. Analyst expectations had been for it to remain unchanged at 80. Sentiment stood at 90 in November 2020.
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