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Homebuilder Confidence Is Robust
Index Is Up Four Points from July


The latest Housing Market Index from the National Association of Home Builders and Wells Fargo showed an improvement of four points. The future sales index equaled its post-recession high.

With homebuilders reporting better sales and strong demand, the National Association of Home Builders/Wells Fargo Housing Market Index gained four points in August; a solid advance according to the investment institution.

The index for present sales also added four points compared to last month, and future sales increased five. Mark Vitner, senior economist for the Wells Fargo Economics Group says that, "Builders are selling homes as fast as they can build them."

Once again though, the difficulty that they are having obtaining lots and labor is affecting the overall success of the market as evidenced by housing starts falling 4.8 percent in July, and the low prospective buyer traffic, which is down from past highs according to Vitner.

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July 16, 2019, 12:22 pm PDT

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