Tuesday, May 15, 2018
Homebuilder Sentiment Strong And Moving Higher
Sentiment among the nation's home builders is strong and moving higher
this month, to an index level of 70 vs a downwardly revised 68 in April.
May's index got a lift from present sales which rose 2 points to 76
while 6-month sales held unchanged at 77. Traffic is unchanged for a
third month in a row at 51, a modest level reflecting a continued lack
of first-time buyers. Regional composite data have the West out in front
followed by the South and Midwest with the Northeast lagging but still
growing. The new home market looks to be the continued center of
strength for the housing sector. Watch tomorrow for housing starts and
permits in data for April.
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