The key point from this month’s homebuilder survey: Interest from prospective buyers continues to recover.
(Yes, we know, it’s still lower than it was at the bottom of the last two recessions. But it’s improving).
Asha Bangalore at Northern Trust:
The index measuring sales of home six months ahead rose to 30 in August from 26 in the prior month. The cycle low for this index was 15 in February 2009. The index tracking traffic of prospective buyers
of new homes moved up to 16 in August from 13 in the prior month. The cycle low for this index was 7 in December 2008. The main conclusion from this report is that the market for new homes is recovering.
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