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Builder confidence rises.
As does builder confidence.
Builder confidence improves, too.
Builder confidence declines slightly.
Builder confidence, however, remains unchanged.
Builder confidence increased to its highest in seven years.
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The National Association of Home Builders said in a report released on Monday that builders' confidence in the market for newly built, single-family homes had improved in May.
And if you squint hard at recent data, it looks as if something like that may be starting: home sales are up, unemployment claims are down, and builders' confidence is rising.
"It is hard to believe that the market is turning downward when the home builders' confidence index jumped in July to its highest level in over five years," said Joel Naroff, chief economist at Naroff Economic Advisors.
"A sustained turnaround in the housing market is still far off based on earlier-released depressed readings for housing starts, building permits and builders' confidence indices," said Krishen Rangasamy, an economist at CIBC World Markets in Toronto.
The National Association of Home Builders reported this month that its members were increasingly losing heart as the market erodes; the association's housing market index, which measures builders' confidence, declined in May to its lowest level since January 1985.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com