Builder Optimism Surges But With Caveats

Confidence among homebuilders hits the highest level of the year rising a point to 68 for September in the National Association of Home Builders/Wells Fargo Housing Market Index.

However, the increase is accompanied by concerns about the U.S. trade war with China and a mortgage rate increase earlier this month.

“Builders are expressing growing concerns regarding uncertainty stemming from the trade dispute with China,” said Robert Dietz, NAHB’s chief economist. “NAHB’s Home Building Geography Index indicates that the slowdown in the manufacturing sector is holding back home construction in some parts of the nation, although there is growth in rural and exurban areas.”

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