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Home Builder Stocks Rise as Confidence Hits a Record High

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NAHB chief economist Robert Dietz said builders are benefiting from high traffic, but warned about the rising cost of lumber.


Harald Tjostheim/Dreamstime.com

Home builders’ exceptional summer isn’t over yet. A monthly housing market gauge measuring builder confidence has hit its highest point in 35 years, the National Association of Home Builders, or NAHB, reported Wednesday.

The NAHB/Wells Fargo Housing Market Index rose to a reading of 83 in September, the trade organization said, surpassing a previous record of 78. All three components of the survey—which measure builder perceptions of current sales conditions, sales expectations over the next six months, and traffic of prospective buyers—reached new highs amid historic traffic fueled by low interest rates and migration trends, the trade group said in a release.

Like many housing indicators this year, the confidence index has been on a wild ride. As the coronavirus pandemic thrust the industry into uncertainty,

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Home-builder confidence soars to all-time high despite rising material costs

The numbers: Home builders are more confident about the state of their industry than ever before as foot traffic of prospective buyers continues to improve, according to research from a trade group released Wednesday.

The National Association of Home Builders’ monthly confidence index rose five points to a reading of 83 in September. The index reading was the highest on record in the 35-year history of the data series, surpassing the previous month’s record high.

“The suburban shift for home building is keeping builders busy, supported on the demand side by low interest rates,” Robert Dietz, chief economist for the National Association of Home Builders, said in the report. “In another sign of this growing trend, builders in other parts of the country have reported receiving calls from customers in high-density markets asking about relocating.”

Index readings over 50 are a sign of improving confidence. The index had fallen below

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Confidence boost key to F1 improvements at Mugello, says Albon – F1

Alexander Albon says confidence in his Red Bull Formula 1 car was key to him recording his best qualifying performance of 2020 at Mugello.

Albon has qualified in fourth place for the Tuscan Grand Prix, 0.445s behind team-mate Max Verstappen, and although he also started from that position at the opening race of the season in Austria he had actually qualified fifth but benefitted from a penalty for Lewis Hamilton.

Albon has struggled to get the best out of the car in qualifying this year, but he insists that he is getting better with his confidence building in the RB16.

“Each car has its quirks,” said Albon. “It’s just been confidence, really. Once the confidence is there, the pace improves, it’s pretty simple like that. Like a good example is this weekend in FP1, FP2, FP3, on a track like this you need a lot of confidence.

“It’s one of

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