Homebuilder Sentiment Holds Steady
U.S. homebuilders’ confidence held steady in April, reflecting an overall optimistic outlook in the market for new homes even as a gauge of current sales fell slightly.
The National Association of Home Builders/Wells Fargo builder sentiment index released recently was unchanged at 58. It hasn’t budged in three months. Readings above 50 indicate more builders view sales conditions as good, rather than poor. The index had been in the low 60s for eight months until February.
Builders’ outlook for sales over the next six months and a measure of traffic by prospective buyers edged higher. But builders’ view of current sales conditions fell. Still, builders remain cautiously optimistic about home construction growth this year, according to Robert Dietz, the NAHB’s chief economist.
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