Aug
15

Homebuilder Sentiment in U.S. Reaches Three-Month High in August

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Sentiment among American homebuilders unexpectedly increased to a three-month high as builders saw greater prospects for industry demand despite elevated material costs and shortages of labor and lots, according to data Tuesday from the National Association of Home Builders/Wells Fargo.

HIGHLIGHTS OF HOMEBUILDER SENTIMENT (AUGUST)

  • Builders’ Housing Market Index increased to 68 (est. 64) from 64 in July
  • Measure of six-month sales outlook rose to 78 from 73
  • Index of current sales climbed to 74 after 70

Key Takeaways

The climb follows an easing to an eight-month low in July as builders were challenged with higher materials costs for items such as lumber. Builders are upbeat about a strengthening job market and still-low mortgage rates that are helping prospective buyers. Housing remains a modest contributor to overall U.S. growth that is finding its footing after a rough start to 2017…

Homebuilder Sentiment in U.S. Reaches Three-Month High in August

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Categories : Real Estate

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