Link to Fitch Ratings' Report: 2014 Outlook: U.S. Housing and
Homebuilders (A Continued Mild Recovery)
A slowly expanding economy should provide a boost for the U.S.
homebuilding sector in 2014, according to Fitch Ratings in its outlook
'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
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
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
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.
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
Robert P. Curran
Ratings, Inc., One State Street Plaza, New York, NY 10004
Scenga, New York, +1 212-908-0278