Read more >
Seeking Alpha's Markos Kaminis takes the pulse of the home building sector:
- Home builder sentiment topped out in October, and after edging down into February, it has remained at the same level for four straight months.
- We have documented the reason for followers, believing it to be due to a negative feedback loop that led stock market decline to impact consumer behavior in early 2016.
- However, there have been "green shoots" since, with April data including that for Retail Sales last week and Leading Economic Indicators Thursday, both showing healthy growth.
- Even within this seemingly stagnant report on homebuilder sentiment, builders indicated much-improved expectations for the next six months' sales activity.
- I believe it all adds up to a healthy growth outlook for housing.