U.S. Home Builders Confidence Maintains High Reading

The confidence of homebuilders in the United States stabilized, supported by the low-interest rates amid increasing construction costs due to the rising inflation rates.

The home builders’ confidence index registered a reading of 83 this month, according to data by the National Association of Home Builders (NAHB) released on Monday.

Any reading above 50 signals an improvement in confidence.

Meanwhile, material costs for home construction rose by 12% on an annual basis.