US Builder Sentiment Posts Third Consecutive Monthly Gain

By Robert Dietz
NAHB – Eye on Housing
February 15, 2024
Category: Finance & Economics
Region: United States

Expectations that mortgage rates will continue to moderate in the coming months, the prospect of future rate cuts by the Federal Reserve later this year, and a protracted lack of existing inventory helped provide a boost to builder sentiment for the third straight month. Builder confidence in the market for newly built single-family homes climbed four points to 48 in February, according to the NAHB)/Wells Fargo Housing Market Index (HMI). This is the highest level since August 2023. …All three of the major HMI indices posted gains in February. The HMI index charting current sales conditions increased four points to 52, the component measuring sales expectations in the next six months rose three points to 60 and the component gauging traffic of prospective buyers increased four points to 33.

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