U.S. home-builder confidence rises, despite growing concerns about economy
The numbers: The National Association of Home Builders’ monthly confidence index increased one point to 68 in September, matching the highest reading in a year, the trade group said Tuesday.Readings over 50 are a sign that confidence is improving, while a figure below that threshold would signal deteriorating sentiment among builders.
Regionally, home-builder sentiment improved markedly in the Northeast, South and West and remained even in the Midwest. “The housing story remains primarily one of imbalance between demand and supply,” Doug Duncan, Fannie Mae’s FNMA, +1.38% chief economist, said in a research note Tuesday. This imbalance has driven home prices higher, forcing many would-be buyers to the sidelines.
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