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The US NAHB Housing Market Index yields another positive result

Autore: FXStreet.com




FXstreet.com (Barcelona) - The US National Association of Home Builders release today November's Housing Market Index resulting in an uptick to 16 from a downwardly revised previous result of 15, a good step forward in spite of market analysts expecting a larger improvement to 17.

The NAHB's Chief Economist, David Crowe, explains in the official release: "The most positive aspect of today's report is the future expectations component, which not only held onto the five-point gain it registered in October, but improved by an additional two points to 25 for November. This is the highest that component of the HMI has been since the home buyer tax credit program spurred sales activity this spring." At the same time, he noted, "The most concerning aspect of the report is that survey participants say they have observed absolutely no improvement in their ability to access credit to build viable new projects. This problem is clearly a roadblock to recovery in many markets."

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