Homebuilder confidence in the U.S. remained at a healthy level in the month of February, according to a report released by the National Association of Home Builders on Thursday.
The report said the NAHB/Wells Fargo Housing Market Index came in at 72 in February, unchanged from January and in line with economist estimates.
NAHB Chairman Randy Noel said, “Builders are excited about the pro-business political climate that will strengthen the housing market and support overall economic growth.”
“However, they need to manage supply-side construction hurdles, such as shortages of labor and lots and building material price increases,” he added.
The housing market index component charting sales expectations in the next six months rose to 80 in February from 78 in January, reaching a post-recession high.
Meanwhile, the index measuring buyer traffic held steady at 54, and the component gauging current sales conditions edged down to 78 in February from 79 in January.
The Commerce Department is scheduled to release a separate report on Friday on new residential construction in the month of January.
Housing starts are expected to climb to an annual rate of 1.234 million in January after slumping to a rate of 1.192 million in December.