Homebuilder confidence rises as strong demand counters supply chain constraints
Confidence rose 3 points to 83
Luxury real estate agent and The Campins Company founder Katrina Campins tells 'Cavuto: Coast to Coast' that 'homes are flying off the market' and selling at listed prices.
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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