U.S. homebuilder sentiment for January is pointing to “gradual improvement” in housing market, the National Association of Home Builders said Tuesday.
The industry group’s metric for homebuilder sentiment was unchanged at 60 in January, but the December reading was revised slightly lower.
Economists were expecting a score of 62, but the reading suggests “gradual improvement, which should bode well for future home sales in the year ahead,” NAHB Chairman Tom Woods said in a statement.
The HMI component gauging current sales condition rose two points 67 in January.
“January’s HMI reading is right in line with our forecast of modest growth for housing,” said NAHB Chief Economist David Crowe. “The economic outlook remains promising, as consumers regain confidence and home values increase, which will help the housing market move forward.”
The material has been provided by InstaForex Company – www.instaforex.com