NAHB confidence missed expectations once again - the 7th miss in the last 8 months - as the 'hope' priced into this index is eroded and collapses back to the reality of actual sales. The index was up very modestly but allthanks to yet more "hope" as Future (expected) single-family sales expectations rose to 57 (the highest since Jan). The Northeast saw prospective buyer traffic rise while all other regions fell with the West collapsing.
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The college loan application numbers and the NAHB stat comparisons are interesting to watch.
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