Builder confidence in the market for single-family homes surged in October to the highest level in almost four years, according to the National Association of Home Builders’ Housing Market Index (HMI). The HMI rose four points to 72 in October to match the level recorded in December of 1999.
“The October HMI clearly demonstrates how sensitive the housing market is to changes in interest rates,” said NAHB President Kent Conine, a home and apartment builder from Dallas. “Rates for a 30-
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