News
Homebuilder Confidence at Comfortable Plateau
American homebuilder confidence dipped a point this month, but at 57 remained comfortably above the important 50 threshold. Indeed, the National Association of Home Builders/Wells Fargo index remains near a nine-year high despite declining from a peak of 59 last September. Economists reading the tea leaves of this and other surveys believe that results like this, coupled with low mortgage rates and a job market on the mend, should lead to an improved residential market in 2015.
Confidence increased in the midwest and slackened in all other regions. A Commerce Department report coming out tomorrow is expected to reveal increased housing starts and construction permits as further evidence of a modest recovery.
