Us confidence returning as home sales ramp up

Business confidence levels in the U.S. house-building market were up for the fifth month in a row in February, rising from 25 to 29 on the NAHB/Wells Fargo Housing Market Index (HMI) released this week, as housing sales keep rising.

This is the highest level the index has reached for more than four years and “builder confidence has doubled since September as measured by the HMI,” NAHB Chairman Barry Rutenberg told OPP.

“Given the recent improvements in new home starts and the increasing number of markets included in the NAHB/First American Improving Markets Index, this consistency suggests that the housing market is moving toward more sustainable growth,” he added.

Rutenberg, who is a developer and builder based in Florida, also warned that the U.S. homes market remains “very fragile” with significant differences between different parts of the country.

Source: OPP.org.uk