Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  News  >  Economy & Forex  >  All News

News : Economy & Forex
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies / ForexCryptocurrenciesEconomic EventsPress releases

U.S. Home-Builder Confidence Increases to Pre-Pandemic Levels in July

share with twitter share with LinkedIn share with facebook
07/16/2020 | 10:15am EDT

By Xavier Fontdegloria

 

Home-builder confidence in the U.S. improved in July for the third straight month and recovered to pre-pandemic levels, according to a measure from the National Association of Homebuilders. Here are the report main takeaways:

--The association's housing market index, which gauges the single-family housing market, climbed to 72 in July, up 14 points from June's level of 58. A number over 50 indicates that more builders view conditions as good than poor.

--The reading beat economists' forecasts from a Dow Jones Newswires poll, which estimated the index at 62 for July.

--July marks the third consecutive improvement of the index after two months in negative territory. The indicator, which registered the biggest on-month drop ever in April, took three months to rebound to March's pre-pandemic level of 72.

--"Builders are seeing strong traffic and lots of interest in new construction as existing home inventory remains lean," NAHB Chairman Chuck Fowke said in prepared remarks.

--Despite the clear rebound, NAHB Chief Economist Robert Dietz said the market still faces challenges related to increasing costs and skilled labor availability. "New home demand is improving in lower density markets, including small metro areas, rural markets and large metro exurbs, as people seek out larger homes and anticipate more flexibility for telework in the years ahead," Mr. Dietz said.

--The index gauging current sales conditions increased to 79, the component measuring sales expectations in the next six months climbed to 75 and the measure charting traffic of prospective buyers rose to 58.

--By region, the Northeast registered the largest on-month increase to 70, up 22 points compared with June. The Midwest jumped 18 points to 68, the South increased 10 points to 73 and the West rose 14 points to 80.

 

Write to Xavier Fontdegloria at xavier.fontdegloria@wsj.com

 

share with twitter share with LinkedIn share with facebook
Latest news "Economy & Forex"
08:53aCENTRAL PEOPLE GOVERNMENT OF PEOPLE RE : Xi's article on Marxist political economy in contemporary China to be published
PU
08:17a'Fortnite' app removal threatens social lifeline for young gamers
RE
08:01aDebenhams appoints advisers to draw up plans for possible liquidation
RE
07:18aCalifornia Coronavirus Cases Surpass 600,000, as U.S. Total Breaks 5.3 Million -- Update
DJ
07:02aVietnam reports 21 new COVID-19 infections, 2 deaths
RE
07:02aVietnam reports 21 more covid-19 infections, two deaths on saturday
RE
06:45aTaiwan's China-friendly opposition routed in mayoral by-election
RE
06:45aBelarus leader appeals to Russia as pressure to quit grows
RE
06:43aTunisian economy shrank 21.6% in second quarter of 2020
RE
06:31aZimbabwe's July y/y inflation at 837.5%
RE
Latest news "Economy & Forex"