Homebuilder Confidence in U.S. Strengthens to Highest Since 2005
Source: Bloomberg
Michelle Jamrisko
September 16, 2015 — 10:00 AM EDT
- Gain in confidence reflects improving sales, buyer traffic
- Present-sales index climbs to highest level in a decade
Confidence among U.S. homebuilders rose in September to the highest level in almost a decade, signaling momentum in residential real estate will support growth in the second half of 2015.
The National Association of Home Builders/Wells Fargo builder sentiment gauge rose to 62, the highest level since October 2005, from 61 the prior month, figures from the Washington-based group showed Wednesday. Readings greater than 50 mean more respondents report good market conditions.
“Barring any unexpected jolts, we expect housing to keep moving forward at a steady, modest rate through the end of the year,” David Crowe, NAHB’s chief economist, said in a statement.
The median in a Bloomberg survey of 45 economists called for the measure to hold at 61. Estimates ranged from 58 to 63.
Read more: http://www.bloomberg.com/news/articles/2015-09-16/homebuilder-confidence-in-u-s-strengthens-to-highest-since-2005