U.S. Homebuilder Confidence Improves Much More Than Expected In May
15 Maggio 2019 - 12:18PM
RTTF2
Homebuilder confidence has improved by much more than
anticipated in the month of May, according to a report released by
the National Association of Home Builders on Wednesday.
The report said the NAHB/Wells Fargo Housing Market Index
climbed to 66 in May from 63 in April, while economists had
expected the index to inch up to 64.
Following declines in late 2018 due to higher interest rates and
concerns over slower growth, the index has reached its highest
level since October of 2018.
"Builders are catching up after a wet winter and many
characterize sales as solid, driven by improved demand and ongoing
low overall supply," the NAHB said. "However, affordability
challenges persist."
The bigger than expected increase by the headline index was
partly due to a jump by the index measuring current sales
conditions, which surged up to 72 in May from 69 in April.
The metric charting buyer traffic also rose to 49 in May from 47
in April, while the component gauging expectations in the next six
months edged up to 72 from 71.
On Thursday, the Commerce Department is scheduled to release a
separate report on new residential construction in the month of
April.
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