Post by jeffolie on Nov 18, 2013 9:27:58 GMT -6
November 18, 2013
NAHB: Builder Confidence at 54 in November
by Bill McBride on 11/18/2013
The National Association of Home Builders (NAHB) reported the housing market index (HMI) was at 54 in November, the same as in October (revised down from 55). Any number above 50 indicates that more builders view sales conditions as good than poor.
From the NAHB:
Builder confidence in the market for newly built, single-family homes was unchanged in November from a downwardly revised level of 54 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) released today. This means that for the sixth consecutive month, more builders have viewed market conditions as good than poor.
...
The HMI index gauging current sales conditions in November held steady at 58. The component measuring expectations for future sales fell one point to 60 and the component gauging traffic of prospective buyers dropped one point to 42.
The HMI three-month moving average was mixed in the four regions. No movement was recorded in the South or West, which held unchanged at 56 and 60, respectively. The Northeast recorded a one-point gain to 39 and the Midwest fell three points to 60.
emphasis added
HMI and Starts Correlation Click on graph for larger image.
This graph compares the NAHB HMI (left scale) with single family housing starts (right scale). This includes the November release for the HMI and the August data for starts (September and October housing starts will be released in early December). This was below the consensus estimate of a reading of 55.
www.calculatedriskblog.com/
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Nov. 18, 2013
Home-builder confidence pauses, misses estimate
WASHINGTON (MarketWatch) -- A gauge of home-builder confidence paused this month, as a reading on views for upcoming sales slightly declined, according to a report released Monday. The National Association of Home Builders/Wells Fargo housing-market index was 54 in November, matching a downwardly revised reading for October, which was the lowest in four months. Economists polled by MarketWatch had expected a November level of 55, matching NAHB's prior estimate for October. Results above 50 signal that builders, generally, are optimistic about sales trends. "The fact that builder confidence remains above 50 is an encouraging sign, considering the unresolved debt and federal budget issues cause builders and consumers to remain on the sideline," said David Crowe, NAHB's chief economist. The builder-confidence gauge has increased 20% over the past year, supported by pent-up demand. The gauge is at higher levels than those typically associated with current construction readings
www.marketwatch.com/story/home-builder-confidence-pauses-misses-estimate-2013-11-18
NAHB: Builder Confidence at 54 in November
by Bill McBride on 11/18/2013
The National Association of Home Builders (NAHB) reported the housing market index (HMI) was at 54 in November, the same as in October (revised down from 55). Any number above 50 indicates that more builders view sales conditions as good than poor.
From the NAHB:
Builder confidence in the market for newly built, single-family homes was unchanged in November from a downwardly revised level of 54 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) released today. This means that for the sixth consecutive month, more builders have viewed market conditions as good than poor.
...
The HMI index gauging current sales conditions in November held steady at 58. The component measuring expectations for future sales fell one point to 60 and the component gauging traffic of prospective buyers dropped one point to 42.
The HMI three-month moving average was mixed in the four regions. No movement was recorded in the South or West, which held unchanged at 56 and 60, respectively. The Northeast recorded a one-point gain to 39 and the Midwest fell three points to 60.
emphasis added
HMI and Starts Correlation Click on graph for larger image.
This graph compares the NAHB HMI (left scale) with single family housing starts (right scale). This includes the November release for the HMI and the August data for starts (September and October housing starts will be released in early December). This was below the consensus estimate of a reading of 55.
www.calculatedriskblog.com/
==============================
Nov. 18, 2013
Home-builder confidence pauses, misses estimate
WASHINGTON (MarketWatch) -- A gauge of home-builder confidence paused this month, as a reading on views for upcoming sales slightly declined, according to a report released Monday. The National Association of Home Builders/Wells Fargo housing-market index was 54 in November, matching a downwardly revised reading for October, which was the lowest in four months. Economists polled by MarketWatch had expected a November level of 55, matching NAHB's prior estimate for October. Results above 50 signal that builders, generally, are optimistic about sales trends. "The fact that builder confidence remains above 50 is an encouraging sign, considering the unresolved debt and federal budget issues cause builders and consumers to remain on the sideline," said David Crowe, NAHB's chief economist. The builder-confidence gauge has increased 20% over the past year, supported by pent-up demand. The gauge is at higher levels than those typically associated with current construction readings
www.marketwatch.com/story/home-builder-confidence-pauses-misses-estimate-2013-11-18