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Economic Report: Home builder sentiment roars to a 12-year high as regulations get rolled back

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Cheerier builders, more construction?

Sentiment among home builders roared to a 12-year high in March, propelled by industry approval of early steps from President Donald Trump.

The National Association of Home Builders’ closely-watched confidence index surged 6 points to 71, the highest level since June 2005. The index jumped sharply to a fresh cycle high in the month after the election, but then retreated slightly. Economists had forecast a 1-point increase to 66 in March.

The index’s sub-categories also surged higher. The tracker of current sales conditions rose 7 points to 78, and the gauge of sales over the coming six months was up 5 points to 78.

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