Find out how builders feel about the market

October retail sales rose 0.3% over September. The pace was the slowest in 6 months, suggesting consumers may be growing more hesitant to spend as pandemic numbers rise. Congress remains locked in a stalemate over a coronavirus stimulus. Increases in job losses and reduced spending could slow the economic recovery. Jobless claims unexpectedly rose by 31,000 to 742,00 last week, as new business restrictions sparked a fresh wave of layoffs.

November's homebuilder confidence index for construction of single-family homes shattered record highs for the 3rd straight month, as more buyers are heading for the suburbs. Housing starts increased more than expected in October, suggesting low rates and strong demand continue to sustain the housing market. Mortgage applications to purchase a home rose 4% for the week, up 28% annually. Refinance application volume was down 2% for the week but was up 98% over last year.

"It is not the ship so much as the skillful sailing that assures the prosperous voyage."
George William Curtis