A monthly sentiment index
from the National Association of Home Builders rose 1 point to 61, the highest
level since November 2005. Any reading above 50 is considered positive. The
index stood at 55 one year ago.
"Today's report is consistent with our forecast for a gradual strengthening of the single-family housing sector in 2015," said NAHB Chief Economist David Crowe. "Job and economic gains should keep the market moving forward at a modest pace throughout the rest of the year."
"Today's report is consistent with our forecast for a gradual strengthening of the single-family housing sector in 2015," said NAHB Chief Economist David Crowe. "Job and economic gains should keep the market moving forward at a modest pace throughout the rest of the year."
Of the index's three components, buyer traffic increased 2
points to 45—the only component still in negative territory. Current sales
conditions rose 1 point to 66, while sales expectations in the next six months
held steady at 70.
Regionally, based on a three-month moving average, homebuilder confidence in the West and Midwest each rose 3 points to 63 and 58, respectively. The South gained 2 points to 63 and the Northeast held steady at 46. The Northeast has the smallest share of home construction nationally.
Source:
Brian Woolley
Prospect Mortgage
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