U.S. Homebuilder Confidence Retreats From Highest in 11 Years
Yale's Robert Shiller Sees a Bubble in U.S. Markets
Confidence among U.S. homebuilders retreated in January from an 11-year high, suggesting optimism has plateaued following Donald Trump’s election victory, a report from the National Association of Home Builders/Wells Fargo showed Wednesday.
Even with the January decline, the jump in confidence since Trump’s election in November indicates homebuilders expect the president-elect and new Congress to lower regulatory barriers to developing and buying homes. At the same time, rising mortgage rates may temper confidence in the real estate industry and damp sales in the coming months. More broadly, the optimism mirrors that of other sectors and of consumers, who see Republican policies boosting the economy.