U.S. homebuilder confidence remains stable at 70 in January, housing activity to trend upwards

The U.S. homebuilder confidence remains stable in February. The NAHB housing market index remained stable at 72 in February, coming in above the expected 70. The present expectation of single-family home sales dropped lower by one point to 78, but continues to be elevated.

Meanwhile, future expectations of single-family home sales rose 2 points to 80, whereas the prospective buyers’ traffic index stayed at 54. As forward-looking indicators, these continue to indicate towards positive confidence amongst homebuilders and point towards a modest rebound in starts activity in the near future, noted Barclays in a research report.

“In all, we continue to expect housing activity to trend upwards, albeit at a modest pace”, added Barclays.

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