OfflineHomebuilder Sentiment Slips but Still High
February brought an easing of homebuilder enthusiasm with the real estate market. The sentiment indicator dropped slightly in February. However, homebuilder sentiment has been high for several months, and this slippage was from an indicator number of 47 down to 46. The causes are stated to be ongoing uncertainties about job growth and rising costs for building materials.
Home Sales Rise
The National Association of Realtors reports that the sales of previously owned homes rose in January to the second highest level in three years. Sales rose by 0.4 percent in January compared to December to a seasonally adjusted annual rate of 4.92 million units. This was the second highest level since November of 2009.
Thanks for the timely update. Keeping informed on changes in the RE market is imperative for REIs.