Low Rates Push Homebuilder Optimism to Record High

U.S. home builder confidence rose for a third straight month in August to match a record high as record-low interest rates spur a surge in customer traffic, especially in suburban markets that are growing in appeal as a result of the coronavirus pandemic, data released on Monday showed.

The National Association of Home Builders/Wells Fargo Housing Market Index rose 6 points to 78, matching a series record set in 1998. The median expectation among 30 economists in a Reuters poll was for a rise to 73 from July’s reading of 72.

NAHB’s measures of both current and future home sales improved.

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{Matzav.com}