Analysts at Wells Fargo point out that the NAHB/Wells Fargo Housing Market Index held steady at 62 in March, as builders’ assessment of both present and prospective sales rose. They also noted that expectations for future sales have increased.
“Builder sentiment has rebounded from the lows hit late last year, as builders are balancing optimism with pragmatism. Homebuilders are optimistic headed into the spring selling season but are also being pragmatic in recognizing the housing market still faces a significant affordability issue.”
“Builders noted that demand for lower-priced homes remains very strong, but such homes are in short supply and buildable lots remain scarce.”
“Expectations for single-family sales over the next 6 months rose 3 points to 71 in March and are up 10 points since their December low.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.