Fitch Teleconference Today: U.S. Housing Advancing Despite Hiccups
Recent disappointments such as last month's new home sales statistics likely will not impede the U.S. housing recovery, according to Fitch Ratings.
New home sales for September fell 2.7% year-over-year and SAAR was off 11.5% from August. That said, low oil prices, generally robust employment growth, demographics, pent-up demand, still attractive affordability/housing valuations, and a steady, moderate easing in credit standards should sustain the upturn for U.S. housing for the remainder of 2015. These issues should further stimulate housing demand in 2016, despite higher mortgage rates.
Fitch will be discussing these and other market and competitive trends during its quarterly housing and homebuilder conference call to take place this afternoon at 2PM ET. The focus of the conference call will be to discuss second quarter 2015 (2Q'15) and more recent housing data (where available 3Q builder financial and operating results), as well as Fitch's outlook for the U.S. housing sector and expectations for public homebuilders. Managing Director and lead Homebuilding Analyst Robert Curran will be the call leader and provide insights about the outlook for the balance of 2015 and 2016. Curran and Robert Rulla will answer questions after the formal presentation.
Click on the link below to register for the event:
The conference call follows the release of Fitch's 'U.S. Homebuilding: The Chalk Line - Quarterly Update: Fall 2015', which is available at 'www.fitchratings.com' or by clicking on the link at the end of the press release.
Additional information is available at 'www.fitchratings.com'
U.S. Homebuilding/Construction: The Chalk Line (Fall 2015)
Robert P. Curran
Fitch Ratings, Inc.
33 Whitehall, New York, NY 10004
Sandro Scenga, New York