The National Association of Home Builders/Wells Fargo Housing Market Index revealed that homebuilder sentiment in October rose by three points noting that they foresee an increase in buyer traffic and sales volume. Low mortgage interest rates are bringing buyers back into the single-family home market.
Robert Dietz, chief economist at the National Association of Home Builders said, “However, builders continue to remain cautious due to ongoing supply-side constraints and concerns about the slow economy.”