A jump in builder confidence in the Northeast led the national level modestly higher this month. Behind the improvement were strong economic conditions and lower lumber prices.
October 2018’s Housing Market Index was determined to be a seasonally adjusted 68. An index above 50 is an indication that more builders view conditions as good than poor.
A one-point gain was made from the previous month, when the index fell to the lowest level in 12 months. But the the index was no different than in the same month last year.
Source: Mortgage Daily