FYI: November NAHB Homebuilder Sentiment exceeded estimates this morning and improved sequentially, coming in at 58 versus expectations of an increase to 55 from 54 in October. At right we break down the changes within each sub index and the regional indices. Every index improved sequentially, a pattern we last saw in July. This is the first time since 2004 that all indices have improved sequentially in at least two monthly reports within the calendar year. Particularly strong were gains in the Northeast and West regions, where sentiment surged ahead of the cold weather we got over the last two weeks.
Regards,
Ted
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