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