Builder’s Confidence Rises to 20-year High

The National Association of Homebuilders (NAHB) \ Wells Fargo Housing Market Index, reports that builder’s confidence in newly built, single-family home market jumped 5 points in December to a reading of 76, the higher reading since June 1999. The November reading was also revised higher by 1 point. The reading in December 2018 was 56. In prepared remarks, NAHB Chairman Greg Ugalde, said, “builders are continuing to see the housing rebound that began in the spring, supported by a low supply of existing homes, low mortgage rates and a strong labor market.”