Tuesday, February 17, 2015

Homebuilder Sentiment Dips Amid Inclement Weather

Homebuilders confidence in the market for newly built single-family homes fell 2 points to 55 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). The index has remained above the 50-point benchmark for eight consecutive months.

Two out of three components of the index posted losses in February. “Current sales conditions” edged down one point to 61 and “buyer traffic” fell 5 points to 39. However, “sales expectations in the next six months” remained unchanged at 60.

Regionally, the Northeast fell one point to 46 and the Midwest and South each fell two points to 54 and 57, respectively, while the West rose two points to 68.

Read the NAHB release.

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