Homebuilders are still feeling positive about the market, but not as much as they were in September, when a monthly survey of builder confidence hit a high for the year.
The National Association of Home Builders/Wells Fargo Housing Market Index fell 2 points in October to 63, the reading analysts had forecast. Anything above 50 is considered positive sentiment.
“Even with this month’s drop, builder confidence stands at its second-highest level in 2016, a sign that the housing recovery continues to make solid progress,” NAHB Chairman Ed Brady said in a statement.
via CNBC
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Alfonso Esparza
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
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