Confidence among U.S. homebuilders grew to a seven-month high in November, Bloomberg reports, thanks to a jump in sales expectations and optimism that a Trump administration will ease regulatory burdens.
The National Association of Home Builders and Wells Fargo’s gauge of housing market conditions climbed 3 points to 46 this month, exceeding all estimates in a Bloomberg survey of economists.
All three components of the index rose, led by the six-month sales outlook, which increased 7 points to the highest level since April 2022 on hope looser regulations and more construction will follow the election. A measure of current sales improved to a six-month high and an index of prospective buyer traffic reached the highest level since April.
“While the stock market cheered the election result, the bond market has concerns, as indicated by a rise for long-term interest rates,” NAHB chief economist Robert Dietz said in a statement. “There is also policy uncertainty in front of the business sector and housing market as the executive branch changes hands.”
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