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Builder Confidence Continues Rally
Two Months of Gains

Builder Confidence Continues Rally

Lower mortgage interest rates are being credited with the rise in optimism in the homebuilding sector to begin 2019.

After a softening in the NAHB Housing Market Index at year's end, which saw a three-year-low score, the assessment of homebuilders' confidence in present and future activity recorded a six-point turnaround in January and February to register a score of 62.

In announcing the positive results, the Wells Fargo Economics Group stated, "While structural affordability challenges remain, the... decline in mortgages rates over the past two months, robust job growth and stabilizing consumer confidence should buoy demand during the spring buying season."

The NAHB index surveys industry professionals to get a gauge of what the next six months might bring. Noted in the statement by the economics group was the fact that important real numbers are not up to date as the Census Bureau has yet to release December's new starts and sales, due to the government shutdown, and those are not expected to be strong totals.

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August 18, 2019, 3:13 pm PDT

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