Consumer confidence lifting home sales

Consumer confidence

Consumer confidenceBy Kris Hudson | Wall Street Journal

The housing market has been disappointing in the past year, with sales essentially flat. But there are signs that the market is starting to stir.

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.

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. That followed fellow builder M/I Homes Inc.’s report on Tuesday that its January sales were up 8% as well as recent comments from peers PulteGroup Inc., Ryland Group Inc. and Beazer Homes USA Inc. that January sales exceeded their year-ago tallies.

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