Posted on 11/18/2024 7:56:29 AM PST by ChicagoConservative27
Homebuilder confidence surged in November as the election of Donald Trump and a Republican sweep of the House and Senate boosted optimism about the housing market.
The National Association of Home Builders (NAHB) said its monthly confidence index rose to 46, the highest level since April. This was higher than even the most bullish forecasts and three points above the October level. The sentiment boost reflects builders’ beliefs that the incoming administration and its Republican allies on Capitol Hill will adopt policies to facilitate increased construction activity.
“With the elections now in the rearview mirror, builders are expressing increasing confidence that Republicans gaining all the levers of power in Washington will result in significant regulatory relief for the industry that will lead to the construction of more homes and apartments,” said NAHB Chairman Carl Harris. “This is reflected in a huge jump in builder sales expectations over the next six months.”
The three components of the confidence index were all up in November. Builders were more upbeat about current sales conditions, they expect an increase in traffic from prospective buyers, and they are optimistic about future sales.
(Excerpt) Read more at breitbart.com ...
Get those interest rates down or nothing is going to happen.
Buddy of mine has a stone business and also produces brick veneer. He said orders have already picked up.
Another good indicator: I drove around Central Texas this weekend and saw a lot of frack sand trucks on the road. I have not seen a frack sand truck in over 2 years. My thinking is that the frackers are putting assets on site and gearing up to start fracking again.
One hundred years ago, Silent Cal Coolidge stated “The business of America is business”.
Now President Trump is emulating Coolidge. Cool.
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