The gauge joins other measures of consumer and business confidence in reaching its highest level in more than a decade after Donald Trump’s election.
Builder confidence in the market for new, single-family homes jumped six points in March to an index level of 71, the highest reading since June 2005, the National Association of Home Builders said Wednesday.
Readings above 50 indicate more builders view conditions as good than poor.
“Builders are buoyed by President Trump’s actions on regulatory reform,” said NAHB Chairman Granger MacDonald.
Builders reported improved sales conditions and more buyer traffic. The home builder’s gauge joins other measures of consumer and business confidence in reaching its highest level in more than a decade after Donald Trump’s election.
Despite rising confidence in recent months, home building hasn’t picked up.
Housing starts fell 2.6% in January, the Commerce Department has said. February starts figures will be released Thursday. Builder confidence is at the highest level since near the peak of the housing bubble, which preceded the financial crisis and recession.