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Homebuilder confidence increases slightly in October

October 16, 2018 / Alcynna Lloyd

Declining material costs and a strong economy contributed to homebuilder confidence climbing one point to 68 in October, according to the National Association of Home Builders/Wells Fargo Housing Market Index. “Builders are motivated by solid housing demand, fueled by a growing economy and a generational low for unemployment," NAHB Chairman Randy Noel said. "Builders are also relieved that lumber prices have declined for three straight months from elevated level earlier this summer, but they need to manage supply-side costs to keep home prices affordable.”