Builder confidence in the market for newly-built single-family homes increased five points to 90 in November, shattering the previous all-time high of 85 recorded in October.
Record-low mortgage rates were not enough to offset inventory shortages and rising home prices as housing affordability continued to decline in the third quarter of 2020, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index.
Builder confidence in the single-family 55+ housing market was at an all-time high in the third quarter, jumping 18 points to 83, according to the National Association of Home Builders' 55+ Housing Market Index.
Sales of newly built, single-family homes in September fell 3.5 percent to 959,000 from a downwardly revised August number, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.
Single-family starts showed continued growth in September as overall housing production increased 1.9 percent to a seasonally adjusted annual rate of 1.42 million units.
In a further show of strength for the housing sector, builder confidence in the market for newly-built single-family homes increased two points to 85 in October, further surpassing the previous all-time high of 83 recorded in September.
Design & Construction Week was scheduled to take place on Feb. 9-11, 2021, at the Orange County Convention Center in Orlando, Fla. The new all-virtual DCW 2021 will still take place the week of Feb. 8 with extended programming.
In another indicator that housing continues to lead the economy forward, sales of newly built, single-family homes in August topped the 1 million mark and reached their highest pace since September 2006.
