Confidence among U.S. single-family homebuilders rose by the most in nearly a year in October as customer traffic improved for a second straight month, although builders remain concerned that the shortages that are driving up materials prices will hurt home affordability.
The National Association of Home Builders/Wells Fargo Housing Market Index rose 4 points—the most since November 2020—to 80 this month. The reading topped the median estimate of economists in a Reuters poll of 76 and the increase pushed the index to a three-month high.
