The numbers: The construction industry’s outlook improved again in November, according to research from a trade group released Monday.
The National Association of Home Builders’ monthly confidence index rose five points to a reading of 90 in November, a record high, the trade group said Tuesday. It is the fourth consecutive month that the index has hit a new record high.
Index readings over 50 are a sign of improving confidence. Back in April and May, the index dropped below 50 as pandemic concerns mounted.
What happened: The index that measures sentiment regarding current sales conditions increased six points to 96, while the index of expectations for future sales over the next six months rose one point to 89. The gauge regarding prospective buyers increased three points to 77.
At a regional level, though, confidence varied. The indexes for the Midwest, South and West all increased, led by a