Home builders maintained December’s confidence level according to the National Association of Home Builders (NAHB) Housing Market Index for January. The latest reading of 60 mirrored December’s reading, but was two points lower than expected. Readings of more than 50 indicate that more builders were confident about housing conditions than those who were not.
In addition to weekly reports on mortgage rates and new unemployment claims, last weekâs economic news included the Fedâs Beige Book report, retail sales and consumer sentiment. Januaryâs Empire State Index showed an unexpected dip and Consumer Sentiment increased for January.
The first week of 2016 was quiet concerning housing and mortgage related news, but reports on construction spending and several labor-related reports were released.
2015 said farewell with reports on Case Shiller home prices, pending home sales, and consumer confidence.
This week’s report of economic events is shortened due to the Christmas holiday. Economic news through Wednesday included Existing Home Sales, New Home Sales and Consumer Spending.