Homebuilder confidence hits 6 1/2-year high
L.A Confidence among UNITED STATE homebuilders inched upward this month to the highest level in more than six and a half years as builders reported the most effective market for newly built homes because the housing boom. The National Association of Home Builders/Wells Fargo builder sentiment index released Tuesday increased to 47, up 2 points from a revised 45 in November. That's the highest reading because April 2006, just before the housing bubble burst. Readings below 50 recommend adverse belief about the housing market. The last time the index was at or above that level was in April 2006, with a reading of 51. It has been trending greater because October 2011, when it stood at 17. The most up to date index, which is based on responses from 441 builders, mirrors growing optimism that a turnaround in housing will sustain after years of stagnation.
People:
David Crowe
Overall Sentiment: 0
Relevance: 0.675306
| Sentiment | Quote |
|---|---|
| 0.103471 | "While there is still much room for improvement, the consistent upward trend in builder confidence over the past year is indicative of the gradual recovery that has been taking place in housing markets nationwide and that we expect to continue in 2013," said David Crowe, ... |
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Key:
- Aggregate Sentiment is meant to be an indicator of an individual's overall sentiment.
- The Mean is meant to be an indicator of an individual's average comment sentiment.
- The Standard Deviation, when there are enough quotes, will indicate an individual's consistency of sentiment (i.e. a Standard Deviation of 0 would mean they were very consistent in their sentiment and 1 would mean they were very inconsistent).
Note that quote stats are likely to be meaningless beyond the aggregate score due to the tiny sample size. However, they are always provided just in case you find something useful there.
Additional Info:
Organization: NAHB
Overall Sentiment: 0.0761131
Relevance: 0.90814
City: LOS ANGELES
Overall Sentiment: 0.323476
Relevance: 0.593738
Country: U.S.
Overall Sentiment: 0.359298
Relevance: 0.568046
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Builders reported the best market for newly built homes since the housing boom
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Homebuilder confidence hits 6 1/2-year high
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