9/16/2020, 4:01 PM (Source: TeleTrader)
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US housing market index climbs to record high in September

Builder confidence in the United States for the newly built single-family homes continued to improve in September, rising to a record high in the survey’s 35-year history, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) released on Wednesday.

The Housing Market Index (HMI) landed at 83 as demand for housing continues to surge. The HMI index gauging current sales conditions and the one for sales expectations both increased to record highs as well.

"The suburban shift for home building is keeping builders busy, supported on the demand side by low interest rates. In another sign of this growing trend, builders in other parts of the country have reported receiving calls from customers in high-density markets asking about relocating," NAHB chief economist Robert Dietz said.

Breaking the News / JC