October homebuilder sentiment +5 points to 37 vs. +1 point estimated
CNBC · Just In
CNBC
Just In
U.S. homebuilder sentiment in the single-family housing market rose by five points to 37 in October, according to the National Association of Home Builders (NAHB) housing market index.
Breakdown
- Homebuilder sentiment rose five points to 37 in October, exceeding expectations. 5s
- The NAHB index reached its highest level since April. 14s
- Builders cite lower mortgage rates and Federal Reserve actions as factors for improvement. 19s
- Future sales expectations jumped nine points, crossing into positive territory. 42s
- Builders continue to face supply-side cost challenges and have been cutting prices. 54s