Residential contractors see a rebound on the horizon
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- Easing mortgage rates caused builder confidence in the single-family sector to post its strongest Housing Market Index reading since September, according to the report, while other data indicates the housing market is stabilizing off a cyclical low. The HMI gauges builder perceptions of current home sales and sales expectations for the next six months.
- “While the HMI remains below the breakeven level of 50, the increase from 31 to 42 from December to February is a positive sign for the market,” said Robert Dietz, NAHB chief economist. “Even as the Federal Reserve continues to tighten monetary policy conditions, forecasts indicate that the housing market has passed peak mortgage rates for this cycle.”