Homebuilder Sentiment slipped in February according to the latest report out from the National Association of Homebuilders. The reading for the index now stands at 46. A reading of 50 is the demarcation line between a positive and negative outlook from Homebuilders.
Housing Starts fell 8.5% in January but that number was primarily driven by the reduction in multi-family building. Single-family homes starts are at their highest level since July 2008, and permits are at their highest level since June 2008. A very good sign as we start to enter the spring buying and selling season here in the Triangle.
In keeping with the building them for this week, please tune into the blog tomorrow, as I will be interviewing Ryan Wells, Divisional President for Meritage Homes here in the Triangle. We will be discussing all facets of Homebuilding,Ttriangle housing fundamentals and consumer housing perspectives.