Talking Points …
- The nation’s biggest public home builders are telling investors that new-home sales picked up during the second half of January, reflecting rising consumer confidence, low interest rates and an improving economy.
- For example, Taylor Morrison Home Corp., a builder in five states, on Wednesday reported a 30% increase in its January sales from a year earlier, following its 24% gain in the fourth quarter. Other builders like PulteGroup Inc., Ryland Group Inc., and Beazer Homes USA Inc. have reported that January sales exceeded their year-ago tallies.
- Builders, home sellers, and economists are hoping for a strong spring season after home sales largely disappointed in 2014. Analysts and builders now point to several factors buoying buyer confidence, including job growth and because the interest rate on a 30-year, fixed-rate mortgage was 3.66% last week, down from 4.32% a year earlier.