U.S. home builder sentiment rose for the second month in a row in February, the National Association of Home Builders said.
The numbers: The National Association of Home Builders’ monthly confidence index rose 7 points to 42 in February, the trade group said on Wednesday.The jump in confidence in February was more than what analysts had expected. Economists polled by The Wall... The numbers: The National Association of Home Builders’ monthly confidence index rose 7 points to 42 in February, the trade group said on Wednesday.The jump in confidence in February was more than what analysts had expected.
Builders were also slowing down on offering incentives to lure buyers as rates come down. Per NAHB, only 31% of builders dropped home prices in February, as compared to 35% in December and 36% in November. What the NAHB said: “Forecasts indicate that the housing market has passed peak mortgage rates for this cycle,” Robert Dietz, chief economist at the NAHB, said in a statement.
Huey added that building entry-level homes was the most “challenging part” of the market, and called on lawmakers to help reduce the cost of developing lots and building homes “via regulatory reform.”
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