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Homebuilder Sentiment Jumps By Largest Amount in a Decade
Homebuilders are growing more bullish about the market.
The National Association of Home Builders reported Wednesday that homebuilder confidence for newly built single-family homes in February rose seven points to 42, the highest reading since September and the largest monthly gain since June 2013.
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"Two consecutive solid monthly gains for builder confidence, spurred in part by easing mortgage rates, signal that the housing market may be turning a corner even as builders continue to contend with high construction costs and building material supply chain logjams," a press release from the National Association of Home Builders said.
A homebuilder confidence score below 50 is considered negative. Sentiment fell to 31 in December and was at 81 a year ago, before mortgage rates began to rise.
See other articles related to: homebuilder confidence
This article originally published at https://dc.urbanturf.com/articles/blog/homebuilder_sentiment_jumps_by_largest_amount_in_a_decade/20635.
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