Joe Friday

Homebuilders Agree: January Was A Good Month

I listened to the cc for both CTX and RYL and there was a note of optimism with respect to the January numbers on both calls.
It is my view, however, that the January results were likely an anomaly and not an indicator of a change in trend. All economic indicators continue to deteriorate. My guess (note only a guess) is that there may have been some optimism tied to the Obama effect in January. We will see if there is a confirmed trend in the next couple of months.