A gauge of home-builder confidence rose in December to the highest level in four months, led by views on current sales of single-family homes, according to a report released Tuesday. The National Association of Home Builders/Wells Fargo housing-market index reached 58 this month, up from 54 in November. Economists polled by MarketWatch had expected a December level of 56. Results above 50 signal that builders, generally, are optimistic about sales trends. Part of December's improvement is a rebound from the government shutdown that hit housing, said David Crowe, NAHB's chief economist. "We continue to look for a gradual improvement in the housing recovery in the year ahead," Crowe said. NAHB's overall builder-confidence gauge increased 23% over the past year, supported by pent-up demand, even as mortgage rates rose. The builder-confidence barometer is at higher levels than those typically associated with current construction rates.
Tuesday, December 17, 2013
Home-builder confidence highest in four months
Home-builder confidence highest in four months
A gauge of home-builder confidence rose in December to the highest level in four months, led by views on current sales of single-family homes, according to a report released Tuesday. The National Association of Home Builders/Wells Fargo housing-market index reached 58 this month, up from 54 in November. Economists polled by MarketWatch had expected a December level of 56. Results above 50 signal that builders, generally, are optimistic about sales trends. Part of December's improvement is a rebound from the government shutdown that hit housing, said David Crowe, NAHB's chief economist. "We continue to look for a gradual improvement in the housing recovery in the year ahead," Crowe said. NAHB's overall builder-confidence gauge increased 23% over the past year, supported by pent-up demand, even as mortgage rates rose. The builder-confidence barometer is at higher levels than those typically associated with current construction rates.
A gauge of home-builder confidence rose in December to the highest level in four months, led by views on current sales of single-family homes, according to a report released Tuesday. The National Association of Home Builders/Wells Fargo housing-market index reached 58 this month, up from 54 in November. Economists polled by MarketWatch had expected a December level of 56. Results above 50 signal that builders, generally, are optimistic about sales trends. Part of December's improvement is a rebound from the government shutdown that hit housing, said David Crowe, NAHB's chief economist. "We continue to look for a gradual improvement in the housing recovery in the year ahead," Crowe said. NAHB's overall builder-confidence gauge increased 23% over the past year, supported by pent-up demand, even as mortgage rates rose. The builder-confidence barometer is at higher levels than those typically associated with current construction rates.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment