Amid all the ups and downs these days, "no change" can be a great thing
The National Association of Home Builders reported that home builders' confidence in the outlook for what they do remained steady from last month to this. What slipped-- probably having to do with the vagaries of the home mortgage environment and their impact on those who are trying to get a loan--is the traffic index to new-home neighborhoods. Calculated Risk's take on the latest data, which has emerged as an important economic indicator, is "Confidence remains very low ... any number under 50 indicates that more builders view sales conditions as poor than good." Housing starts are due tomorrow. However, Builder Pulse's next issue will be December 21
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