Mubasher: The National Association of Home Builders/Wells Fargo Housing Market Index (HMI) increased to a level of 68 points in October, up from 64 in September 2017, and 63 in October 2016.
This comes as all three component indices recorded monthly and annual improvements in conditions, according to a recent report by S&P.
The single-family sales index increased to a level of 75 points, rising by 5 points month-on-month and 6 points year-on-year.
The future single-family sales index increased to 78 points, increasing 5 points month-on-month and 7 points year-on-year, while the index tracking the traffic of prospective buyer showed the weakest improvement, levelling up just 1 point month-on-month and 2 points year-on-year to the level of 48 points.
