2/20: MetroIntelligence Economic Update by P. DUFFY

February builder confidence rebounds four points to 62

Builder confidence in the market for newly-built single-family homes rose four points to 62 in February, marking the second consecutive month in which all the HMI indices posted gains. The index measuring current sales conditions rose three points to 67, the component gauging expectations in the next six months increased five points to 68 and the metric charting buyer traffic moved up four points to 48.

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January new home mortgage applications rebounded 43 percent from December, but flat year-on-year

January mortgage applications for new home purchases remained unchanged from a year ago, but rose 43 percent from December.  The MBA also estimates new single-family home sales were running at a seasonally adjusted annual rate of 713,000 units in January 2019, up 29.2 percent from December.

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