- The National Association of Home Builders' index jumped a whopping five points to 74 this month vs. expectations for just a one point gain to 70.
- The subindex of current conditions added four points to 81, and one for future sales rose three points to 79. The buyer traffic gauge rose eight points to 58 - the highest level in 20 years.
- Full report
- The news suggests homebuilders are looking past any restrictions on the mortgage interest deduction in the new tax bill, and instead focused on tax cuts and eased regulatory relief. The NAHB this weekend said it was in full support of the coming reform.
- The red-hot homebuilding stocks stay that way. ITB +1.1%, Toll Brothers (TOL +0.5%), Lennar (LEN +1.2%), Pulte (PHM +0.7%). D.R. Horton (DHI +1.4%)
- ETFs: XHB, ITB, PKB, NAIL, HOML, CLAW
- Previously: Housing Market Index Reports Rising Confidence Going Into the Year End (Dec. 18)