“Builders are seeing more motivated buyers coming through their doors as
the inventory of existing homes for sale continues to tighten,” said
David Crowe, NAHB’s chief economist.
June’s result was the first above a key reading of 50 since 2006.
Readings above 50 signal that builders, generally, are optimistic about sales trends.
There’s been concern that rising mortgage rates will curb the housing market’s rebound. Economists polled by MarketWatch had expected July’s reading to remain at an original estimate of 52 for June.
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