Consumer confidence for February fell to 92.2 from 97.9 in January, per the Conference Board. National Association of Home Builders economics researcher Jing Fu reports that 19.8% of consumers say business conditions are "bad," and 12.0% expect them to get worse in the next six months, both increases.
Jing Fu's analysis also looks at Conference Board data on people who say they expect to buy a lived-in home within six months. That number also plummeted to 2.5% in February, from 3.7% in January. Still, for those who crave a silver lining, there was this:
Despite the monthly volatility, the trends in the shares of respondents planning to buy a new home and the shares of respondents planning to buy a lived-in home within six months are climbing up from the trough and consumer confidence remains at a relatively high level by historical standards.