Homebuilders are feeling more confident than ever about the new home market according to the latest housing market index released this week by the National Association of Home Builders. A score higher than 50 signals that most builders feel the market is positive. July’s score came in at 60. “This month’s reading is in line with recent data showing stronger sales in both the new and existing home markets as well as continued job growth,” says David Crowe, chief economist for the association. Despite their growing confidence, builders say they still face a variety of market challenges including a shortage of available lots to build on as well as a lack of skilled labor.

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Image Source: Elvert Barnes