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Home Builder Sentiment Drops

TedTed
in Off-Topic
FYI: Housing has been a relative bright spot for the US economy in recent months, but today’s report on homebuilder sentiment for the month of November showed that builder confidence declined and was weaker than expected. While economists were expecting the NAHB’s index of home builder confidence to be unchanged at 64, the actual reading came in at 62. Although today’s report was the first monthly decline in six months, the decline was minuscule in the grand scheme of things.
Regards,
Ted
https://www.bespokepremium.com/think-big-blog/home-builder-sentiment-drops/

Comments

  • beebee
    edited November 2015
    Also from Bespoke:

    "...the correlation coefficient between Housing Starts and iShares Home Construction etf (ITB) has been +0.91. It’s hard to get more positively correlated than that! It is often said that the stock market looks out ahead six months, but in the case of home builder stocks and housing starts it seems as though the market doesn’t look very far ahead at all."

    https://bespokepremium.com/think-big-blog/an-important-data-point-for-home-builder-stocks/
  • little5beelittle5bee
    seems like seasonality is a factor, as well...I am considering buying/building a new home and my realtor advised me not to put my existing home on the market until after the holidays.
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