U.S. Homebuilder Sentiment Increases to a Six-Month High

Confidence among U.S. homebuilders rose to a six-month high in November on stronger sales and foot traffic even as labor and supply-side challenges delay completion times and drive up costs.

A gauge of builder sentiment rose to 83 from an October reading of 80, National Association of Home Builders/Wells Fargo data showed Tuesday. It marked the third-straight increase. The median forecast in a Bloomberg survey of economists called for no change from the month before.