Photo: REUTERS/Mike Blake
The NAHB housing market index for March is out at 10 a.m. ET.Economists polled by Bloomberg are looking for homebuilder confidence to rise to 47, from 46 in February.
Homebuilder confidence is considered a good leading indicator of the housing market.
Moreover, Bank of America’s Michelle Meyer thinks “a positive feedback loop has begun”. When people think home prices are rising, they think they will keep doing so and credit conditions will improve, and this in turn increases demand for homes.
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