U.S. homebuilder confidence dips in January

The statistical measurement for U.S. homebuilder confidence dropped slightly in January.  The reading of 56 from the National Association of Home Builders/Wells Fargo builder sentiment index was down 1 point from December, but reading above 50 still indicates a view of “good” rather than “poor”.  Mortgage interest rates although still near historically low levels have risen more than a full percentage point and slightly lower numbers in new home sales have contributed to the decrease in builder confidence.  A lower supply of homes on the market, rising home prices, and still low mortgage interest rates have allowed home builders and experts to remain confident in a gradual recovery.

Full Article- Veiga, A. (2014, January 21). U.S. homebuilder confidence dips in JanuaryAP Real Estate Writer Fuze.

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