Sunday, February 19, 2012

Introducing the 24/7 Wall St. Wire

The latest National Association of Home Builders’ survey shows that confidence is unchanged from last month.

This is the second month in a row that the level has remained at 9 for new single-family homes.? Current sales conditions remained at 7, but the traffic of prospective buyers part of the index fell down to 9 from 11 in the report.

The group is in hope that the government relief package can lift the economy, but that notion is still too soon for any confidence.? The component measuring sales expectations for the coming six months was flat at 15.? When you consider that this is from 384 home builders, it is hard to imagine that they would just throw in the towel for expectations.? That would in a sense be talking down your own assets.? Or in the military it would be like doing something in your own mess kit.

To keep in mind just how negative these numbers are, the level of 50 is the pivot point.? Above 50 is growth, and under 50… well let’s just say that it speaks for itself.

What if we put on the hat of the optimist?? Things got so bad that they just don’t look like they can get much worse.? And the realist?? There is just no sign of any improvement.

JON C. OGG

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