Confidence among U.S. homebuilders inched up this month, to the highest level in more than six and a half years, as builders reported the best market for newly built homes since the housing boom.
The National Association of Home Builders/Wells Fargo builder sentiment index released Tuesday increased 2 points to 47 from a revised 45 in November. That’s the highest reading since April 2006, just before the housing bubble burst.
Readings below 50 suggest negative sentiment about the housing market.
The last time the index was at or above that level was in April 2006, with a reading of 51. It has been trending higher since October 2011, when it stood at 17.
JOIN THE DISCUSSION | Register here
We welcome comments. Please keep them civil, short and to the point. ALL CAPS, spam, obscene, profane, abusive and off topic comments will be deleted. Repeat offenders will be blocked. Thanks for taking part — and abiding by these simple rules. A thorough explanation of rules of conduct can be found in our Terms of Service. If you have any questions, including why your comment may not be showing immediately after you submit it, be sure to visit the commenting FAQ.