NAHB Sentiment surged 4 points to 53 – its first time above the crucial ‘recovery’ 50-level since January. All sub-indices were higher but the biggest gain was in “Future sales expectations” which soared to its highest since September (and consider for a moment just how ‘wrong’ builders were from that point). All regions rose with The West rising most (and South least). Given the massive divergence between Builder sentiment and the reality of sales and mortgage apps, it is no surprise that “hope” is what they have left.
HANB jumps to best since January… led by future hope…
which – given the following chart – is all they have…
Especially if US and China clamp down on hot money flows…
via Zero Hedge http://ift.tt/1nwjYu5 Tyler Durden