Homebuilder confidence surges to highest level in nearly two years, thanks to lower mortgage rates

Builder construction confidence in the single family market is up 3 points to 70 according to the National Association of The Home Builders/Wells Fargo Housing Market Index. The Index is composed of three parts current sales conditions, sales expectations, and buyer traffic. Current sales conditions is up 3 to 78, sales expectations is up 6 to 76, and buyer traffic is up 4 to 54 in the month of October. Anything around or above 50 is considered positive sentiment. The incline that began in the spring was supported by low mortgage rates and job growth but concerns about the economy slowing and the housing supply levels being low keep single family construction confidence from growing too rapidly.

https://www.cnbc.com/2019/10/16/homebuilder-confidence-surges-to-highest-in-nearly-two-years.html