U.S. Home Builders’ Confidence in February Holds at 72
(Bloomberg) --Here's our chart, above 50 denotes net optimism: click to enlarge
Following is a summary of U.S. housing activity from the National Association of Home Builders/Wells Fargo.
- “Builders are excited about the pro-business political climate that will strengthen the housing market and support overall economic growth,” said NAHB Chairman Randy Noel, a custom home builder from LaPlace, La. “However, they need to manage supply-side construction hurdles, such as shortages of labor and lots and building material price increases.”
- Jan. index for the Northeast revised down two points; south revised up by one point
- The HMI component charting sales expectations in the next six months rose two points to 80 - the highest level since June 2005
Like we keep saying, higher rates at this juncture -- while they'll for sure play short-term havoc with stock prices -- should be viewed as confirmation that the economy's on firm footing.