Economy

Economic Data Roundup (04/18/2016)

4/18/16 12:00 PM

iStock_000009946822_Small.jpgThe only U.S. economic data released this morning is a report from the National Association of Home Builders (NAHB) which showed that builders’ confidence in the market for newly built, single-family homes was little changed this month. Specifically, the housing market index held at 58 in April, slightly worse than what economists had predicted but still relatively close to the 10-year high hit in October. Under the hood, the gauge of current sales conditions weakened but measures of prospective buyer traffic and sales expectations for the next six months both improved. Over the past three months, builder sentiment softened across all four major regions but NAHB Chairman Ed Brady stressed that “As we enter the spring home buying season, we should see the market move forward.” NAHB Chief Economist Robert Dietz added that “Builders remain cautiously optimistic about construction growth in 2016. Solid job creation and low mortgage interest rates will sustain continued gains in the single-family housing market in the months ahead.”

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Sources: Econoday, NAHB, FRBSL

Post author: Charles Couch