Economy

Economic Data Roundup (09/19/2016)

9/19/16 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 surveyed builders this month were a lot more confident in the market for newly built, single-family homes. Specifically, the NAHB’s housing market index jumped from August’s downward-revised 59 print to 65 in September, much better than economists had anticipated, the largest monthly gain since June 2015, and matching the post-recession high hit roughly one year ago. Under the hood, the gauge of prospective buyer traffic firmed in September, and measures of both current and future sales conditions improved markedly. Regionally, builder sentiment strengthened over the past three months in the Northeast, the South, and the West but was unchanged in the Midwest. NAHB Chairman Ed Brady added that “As household incomes rise, builders in many markets across the nation are reporting they are seeing more serious buyers, a positive sign that the housing market continues to move forward.” NAHB Chief Economist Robert Dietz, though, cautioned that “Builders continue to be hampered by supply-side constraints that include shortages of labor and lots.”

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Sources: Econoday, Twitter, Bloomberg, ZH, NAHB, FRBSL

Post author: Charles Couch