Confidence among US builders rose in December to the highest level since July 1999, surpassing all analysts' estimates, as a growing economy boosts housing demand, according to data from the National Association of Home Builders. Homes / Wells Fargo.
by Homebuilder Sentiment (December)
Astonishingly strong reading shows that developers expect a demand to advance amidst steady economic growth and a more restrictive labor market. Mortgage rates remain near record lows, making loans attractive to prospective buyers, while builders also cited easier regulation under President Donald Trump.
The demand for properties is increasing, with an indicator of the traffic of buyers buying Maximum of 19 years, according to the survey. A lot of data this week will give a more complete picture of the housing market, including sales of new and existing homes, as well as excavations and building permits.
Opinions of officials
"Housing market conditions are partially improving due to" NAHB President Granger MacDonald, home builder and developer of Kerrville, Texas, said in a statement
" With low unemployment rates, favorable demographics and a scant supply of existing homes, inventory, we can expect a continuous upward movement of the single-family construction sector next year, "said NAHB chief economist Robert Dietz in the same statement.
- The regional index for the West increased eight points to 85; South increased three points to 75, the highest since 2005
- Index for the Northeast decreased eight points to 53
- Readings above 50 indicate that more respondents reported good market conditions