U.S. home builders’ confidence held steady this month, though their expectations for sales into next year dimmed slightly.
The National Association of Home Builders/Wells Fargo builder sentiment index released Wednesday was unchanged at 63. That’s two points below September’s reading, which was the highest in nearly a year.
Readings above 50 indicate more builders view sales conditions as good rather than poor. The index has been above 60 the past three months after hovering in the high 50s much of this year.
Builders’ view of current sales held steady from last month, while a gauge of traffic by prospective buyers edged higher. But their outlook for sales over the next six months declined slightly.
Even so, builders remain optimistic overall about new home sales, which are running ahead of 2015 levels.Report Typo/Error