Surging homebuilder optimism announced Thursday was yet another measure of Americans’ upbeat feelings about the economy in the wake of Donald Trump’s election as the next President of the United States.
A National Association of Home Builders/Wells Fargo Housing Market Index revealed Thursday that “Builder confidence in the market for newly-built single-family homes” rose to its highest level since July 2005. This most recent index jumped seven points to 70.
“This notable rise in builder sentiment is largely attributable to a post-election bounce, as builders are hopeful that President-elect Trump will follow through on his pledge to cut burdensome regulations that are harming small businesses and housing affordability,” said NAHB Chairman Ed Brady.
The Chairman emphasized the importance of this in light of a 29 percent increase in regulatory costs for home building over five years.