Home builders grow more confident in the face of limited housing supply
The numbers: Home builder sentiment strengthens Home builders grew more confident for the fourth consecutive month, according to an industry index, reflecting their positive outlook in light of the continued low supply of existing homes for sale.
What happened Two of the three gauges that underpin the overall builder confidence index also experienced one-point increases, including the index that measures current sales conditions and the component that tracks traffic of prospective buyers. The gauge that assesses sales expectations for the next six months remained unchanged for the second consecutive month.
The big picture Home builders may be enjoying the current sales environment, but it may be fleeting. With the Federal Reserve expected to begin tapering its stimulus measures, which have included purchases of mortgage-backed securities, mortgage rates are expected to increase.
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