Homebuilder confidence rose for the third consecutive month in November, beating forecasts despite the persistence of supply-side challenges like shortages of construction materials, lots, and labor.
Sentiment among single-family homebuilders moved up by three points to a reading of 83 in November, according to the NAHB/Wells Fargo Housing Market Index (HMI), marking the third month in row of rising builder confidence and exceeding consensus forecasts for a reading of 80.
