Homebuilder confidence is at a ten-year high.
The latest housing market index from the National Association of Homebuilders came in at 64, the highest since October 2005.
Economists had estimated an index reading of 62 for October. The prior print was revised down to 61 from 62.
The NAHB's report is based on a survey of members to get their thoughts on the housing market, as well as their prospects for future new home sales.