Homebuilder sentiment is at a 10-year high according to the monthly Housing Market Index conducted by the National Association of Home Builders (NAHB) and Wells Fargo. December’s index was five points higher than the month before and the highest since June 1999.
According to Greg Ugalde, chairman of the NAHB, “Builders are continuing to see housing rebound that began in the spring, supported by the low supply of existing homes, low mortgage rates, and a strong labor market.”