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Economic Buzz: US NAHB Homebuilder Confidence Improves In January
(17-Jan-2019, 07:53 Hours IST)
US homebuilder confidence improved in the month of January, according to a report released by the National Association of Home Builders on Wednesday. The report said the NAHB/Wells Fargo Housing Market Index rose to 58 in January after slumping to 56 in December. The notable decrease seen in the previous month dragged the housing market index down its lowest level since hitting 54 in May of 2015. NAHB said a recent gradual decline in mortgage rates helped to sustain builder sentiment and predicted low unemployment, solid job growth and favorable demographics would support housing demand in the coming months.

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