Of concern is that single-family permits were at the lowest level of 2018. Homebuilders were buoyed by the fact that single-family starts are up 7.8% year over year.
Figures on Feb. 18 showed homebuilder confidence waned to a four-month low in February. “Housing construction continues to lag,” Yellen said Feb. 24. “Activity remains well below levels we judge.
The National Association of Home Builders reported Thursday that the group’s housing market index remained unchanged this month at its highest level in nearly two decades.
Confidence levels across all three grades remained below 50 points during 2017Q2. Grades 3 & 4 civil contractors were the only group which registered an uptick in confidence, from 33 points to 44. Conversely, confidence levels among Grades 5 & 6 and Grades 7 & 8.