Home Builders In the U.S Optimistic About Future Growth
The homebuilders are looking at a prospective market and are feeling more positive about the sales prospects as far as homes are concerned as they head towards the next year. It is an indication which signals at better sales of new homes and home constructions the approaching months following a flat period this summer.
The prospective home buyers especially the first time buyers are finding the rise in home prices, the high mortgage rates and slow wage growth reasons that are keeping them away for buying homes.
The National Association of Home Builders/Wells Fargo builder sentiment index that was released on Monday moved up in the current month to 55. That is an increase by two points from July's revised reading of 53.
The most recent reading is an increase for the third straight month and is also the highest after January which saw it stand at 56. Any reading that is more than 50 signifies that builders have a sales view prediction which is good and not poor.
The rate of sales of new homes is staggering behind the rate of last year. It fell 8.1 percent in June to a seasonally adjusted yearly rate of 406,000.
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