Builder confidence in housing market conditions reached a new record high in November according to the National Association of Home Builders. November's index reading of 90 was five points higher than in October. Index readings over 50 indicate positive builder sentiment toward market conditions. Readings for the Housing Market Index fell below 50 in April and May as the COVID-19 pandemic grew.
Home prices rose at their fastest rate in two years according to Case-Shiller Home Price Indices. The National Home Price Index for August showed 5.70 percent home price growth year-over-year as compared to 4.80 percent growth reported in July.res, and avoiding crowded urban areas adjusted family priorities.