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Homebuilder sentiment in February sees biggest gain in decade

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Homebuilder sentiment in February improved by the biggest amount in a decade

America’s homebuilders are growing more bullish as buyer demand picks up, driven in part by slightly lower mortgage rates.

Homebuilder confidence in the market for newly built single-family homes in February rose 7 points to 42, according to the National Association of Home Builders/Wells Fargo Housing Market Index. This is the highest reading since September and the largest monthly gain since June 2013.

Anything below 50 is considered negative, but sentiment had fallen to 31 in December. The index stood at 81 in February of last year, before mortgage rates began to rise.

Builders say affordability is improving, as mortgage rates fall back from their highs of last fall and start to settle…



Source cnbc.com

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