Confidence among the nation's builders of single-family homes is up for the third straight month despite stubbornly persistent building material bottlenecks and lot and labor shortages. 

The share of builders with a positive outlook rose by three points in November for the National Association of Home Builders (NAHB)/ Wells Fargo Housing Market Index.

The portion of the nation index focusing on current sales conditions rose three points to 89 and the gauge charting traffic of prospective buyers also posted a three-point gain to 68. The component measuring sales expectations in the next six months held steady at 84.

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