NAHB Data Shows Slight Increase in Builder Confidence
By Market News Video Staff, Tuesday, November 16, 12:16 PM ET
The National Association of Homebuilders/Well Fargo Housing Market Index showed a slight improvement in builder confidence in November. The index rose one notch, to 16, from a downwardly revised level of 15 in October. The NAHB said that while the gains in sentiment have been incremental, the fact that builder confidence has improved over the past two months is encouraging.
The index is based on a survey which asks builders to rate various aspects of their sector, and ratings from each component are assigned a number value, and compiled. A number over 50 indicates that more viewers view conditions as good rather than poor.
The iShares Dow Jones U.S. home Construction Index fund (AMEX:ITB) is trading lower by 1.5% on Tuesday. NVR (NYSE:NVR) is the top holding in the fund, at 9.18%, while DR Horton (NYSE:DHI) is the second-largest holding, at 8.36%. Lennar (NYSE:LEN) is 7.65% of the fund, while Toll Brothers (NYSE:TOL) is 7.45% of the fund.
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