A key measure of homebuilder confidence unexpectedly improved in August but remains at a subdued level as elevated interest rates and construction costs weigh on the market.
The National Association of Home Builders said its Housing Market Index, produced with Wells Fargo, ticked up one point to 35
The overall Housing Market Index from the National Association of Home Builders and Wells Fargo edged up 1 point to 35 this month. A reading below 50 means that more builders perceive current sales conditions and expected conditions as bad rather than good. The index has remained below 40 for 16 weeks.
Still, the results were better than expected…
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