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Builder Confidence Nears Post-Crash High; Cordray Resigns; Rates Slightly Higher

Builder Confidence Nears Post-Crash High; Cordray Resigns; Rates Slightly Higher

Builder confidence increased for the second consecutive month after taking a hit in September from the late summer hurricanes. The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) increased 2 points in November, hitting 70, the highest score since March . It was also the second highest reading for the index which measures NAHB's new home builder members confidence in the new home market since July 2005. "November's builder confidence reading is close to a post-recession high - a strong indicator that the housing market continues to grow steadily," said NAHB Chairman Granger MacDonald. "However, our members still face supply-side constraints, such as lot and labor shortages and ongoing building material price increases." NAHB's monthly survey, which it has
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