Homebuilder sentiment showed a marked improvement in November, while six-month-ahead sales expectations for single-family homes soared to a 30-month high as builders expressed confidence that a Republican trifecta in Washington will boost the housing market by delivering regulatory relief.
The National Association of Home Builders (NAHB) Housing Market Index (HMI) rose three points, to 46, in November, according to a Nov. 18 press release. That’s the highest level for the sentiment gauge since April, although it’s still below the 50 mark, indicating continued pessimism. Analysts had forecast the index to remain at 43, with Monday’s data amounting to an upside surprise.
