Current sales and buyer traffic tumbled in February for homebuilders who downgraded their confidence index to 58 (from 61) missing expctations and at its worst level since May 2015. While futures sales hope rose very modestly, NAHB shows buyer traffic plunged to its lowest since March 2015 with every region seeing weakness (most notably The West).
All this is odd given the surge in new and existing home sales…
Once again – hope appears not to be a strategy after all.
via Zero Hedge http://ift.tt/1R6gRex Tyler Durden