Pursuits
Homebuilder Confidence Reaches Decade High on U.S. Sales Outlook
- Optimism about future sales jumps to highest since August 2005
- Builders in western U.S. saw biggest surge in confidence
A worker uses a tape measure while assembling a floor at a modular home production facility in Vallejo, Calif. on Sept. 11.
hotographer: David Paul Morris/BloombergThis article is for subscribers only.
Confidence among U.S. homebuilders climbed in October to a 10-year high, a sign demand for housing may remain solid in the months to come.
The National Association of Home Builders/Wells Fargo sentiment gauge increased to 64 this month, the highest since October 2005, from 61 in September, the Washington-based group reported Monday. Readings above 50 mean more respondents said conditions were good.