US Homebuilder Sentiment Holds Steady

Tuesday, April 19th, 2016
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US homebuilders’ confidence held steady in April, reflecting an overall optimistic outlook in the market for new homes even as a gauge of current sales fell slightly.

The National Association of Home Builders/Wells Fargo builder sentiment index was unchanged at 58.

It hasn’t budged in three months.

Readings above 50 indicate more builders view sales conditions as good, rather than poor.

The index had been in the low 60s for eight months until February.

Builders’ outlook for sales over the next six months and a measure of traffic by prospective buyers edged higher, but builders’ views of current sales conditions fell.

The US housing market looks more tempered after strong growth in 2015, with sales in the first two months of 2016 running below last year’s pace.

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