Dive Brief:
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The chief economist for the National Association of Home Builders said this week builders have good reason to be optimistic about the future of the industry.
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In a webinar, David Crowe said the one-point drop in homebuilder confidence reported earlier this week in the NAHB/Wells Fargo Housing Market does not indicate that builders are not confident that housing sales and starts will make a good showing over the next six months. In fact, he said, any number above 50 on the index reveals that the builder community has a positive outlook. November’s number is 57.
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Crowe pointed to job growth, low interest rates and slowly growing income for millennials as signs that 2015 will be a positive year for housing.
Dive Insight:
Crowe has steadfastly forecasted gradual growth and continuing improvement in the housing economy even as home values, housing starts, builder confidence and interest rates have risen and dropped so many times during 2014.