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Fitch: Expanding Economy a Plus for U.S. Homebuilders in 2014

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12/12/2013 | 03:38pm CEST

Link to Fitch Ratings' Report: 2014 Outlook: U.S. Housing and Homebuilders (A Continued Mild Recovery)
http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=726323

A slowly expanding economy should provide a boost for the U.S. homebuilding sector in 2014, according to Fitch Ratings in its outlook report.

'Home prices are likely to increase by 2.5%-3.5% next year with employment showing gains and consumer confidence likely to improve,' said Managing Director Robert Curran. New home pricing will benefit from restrained levels of new home inventory. 'With mortgage rates likely to increase, the spring selling season will likely set the tone for the year.'

The moderate cyclical improvement in overall construction activity should translate to stable ratings for most homebuilders during the year. Some companies may even be positioned for upgrades in the coming months.

Longer term, Fitch may consider revising the homebuilding industry outlook to positive if the housing market embarks on a more V-shaped recovery and starts and new home sales grow considerably. Conversely, Fitch could revise the homebuilding industry outlook to negative if the broader economy stalls and construction fundamentals do not improve.

Fitch's '2014 Outlook: U.S. Housing and Homebuilder' report is available at 'www.fitchratings.com' or by clicking on the above link.

Additional information is available at 'www.fitchratings.com'

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.

Fitch Ratings
Robert P. Curran
Managing Director
+1-212-908-0515
Fitch Ratings, Inc., One State Street Plaza, New York, NY 10004
or
Robert Rulla
Director
+1-312-606-2311
or
Media Relations:
Sandro Scenga, New York, +1 212-908-0278
Email: sandro.scenga@fitchratings.com


© Business Wire 2013
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