Homebuilder Confidence in U.S. Increases to Five-Year High
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Confidence among U.S. homebuilders climbed in August to the highest level in more than five years, affirming the improvement in residential construction.
The National Association of Home Builders/Wells Fargo builder confidence index rose to 37, higher than projected and the best showing since February 2007, according to figures from the Washington-based group released today. The median forecast in a Bloomberg survey of economists called for no change from July’s 35. Readings below 50 mean more respondents said conditions were poor.