Levels of positive sentiment in the US's National Association of Home Builders (NAHB) has increased to 62%, despite significantly lower levels of mortgage approvals and home sales. 61 Hedge notes that rather than builder sentiment echoing a healthy housing market, is it more likely to be unfounded confidence. Previously, equally strong levels of market confidence were reported in 2005, when transactions and mortgage approval rates were also high.
Levels of positive sentiment in the US's National Association of Home Builders (NAHB) has increased to 62%, despite significantly lower levels of mortgage approvals and home sales. Zero Hedge notes that rather than builder sentiment echoing a healthy housing market, is it more likely to be unfounded confidence. Previously, equally strong levels of market confidence were reported in 2005, when transactions and mortgage approval rates were also high.