Home Builder confidence lower in October

PrintBy Anna Louie Sussman | The Wall Street Journal

U.S. home builders reported a slight drop in optimism in October but sentiment remained elevated, a sign the market for single-family homes should continue to be buoyed by steady demand.

The National Association of Home Builders housing-market index fell two points from the prior month to a seasonally adjusted 63 in October, the trade group said Tuesday. That’s the second-highest level of the year, following a September reading of 65. A number over 50 indicates more builders view conditions as good than poor.

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