Confidence among U.S. homebuilders rose this month to its highest level in six years and many expect the housing recovery will strengthen in the next six months.
The National Association of Home Builders/Wells Fargo builder sentiment index released Tuesday increased to 40 in September. That’s up from 37 in August and the highest reading since June 2006, just before the housing bubble burst. Any reading below 50 indicates negative sentiment about the housing market. The index hasn’t reached that level since April 2006, the peak of the housing boom.
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