US builders show morale improved in April

Tuesday, 16. April 2019 16:00

The reading of the confidence index for newly-built single family homes in the United States came in at 63, the highest mark since October, the National Association of Home Builders said on Tuesday. The measure advanced by one point from last month after holding at 62 from February. The 50-point balance separates good conditions from bad, calculated in a monthly survey.

The organization's analysts pointed to "solid demand" but also the concerns over unfilled construction jobs and the scarcity of lots for building, which may translate to higher prices. "Ongoing job growth, favorable demographics and a low-interest rate environment will help to modestly spark sales growth in the near term," NAHB's chief economist Robert Dietz said.

The indicator of sales conditions gained one point to 69, a six-month high. The index of buyer traffic advanced three points to 47 and the gauge of expectations in the next six months landed at 71 or one point lower than last month, respectively. The latter was revised by one point higher for March.

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