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Market
Homebuilders' Confidence Up To Highest Since 2006
WASHINGTON (7/17/13)--U.S. homebuilder confidence in July rose to its highest level since January 2006 because home-building companies became more positive about their sales prospects, said the National Association of Home Builders (NAHB).
 
The NAHB/Wells Fargo index of builder sentiment increased six points--to 57--this month, trumping consensus expectations of a slight decline, NAHB reported Tuesday (Bloomberg.com and Moody's Economy.com July 16). Readings above 50 indicate more respondents said conditions were good rather than bad.
 
A job market that is strengthening, limited inventories and mortgage rates that still hover near historic lows are helping builders while the housing market is adding to economic growth this year, Bloomberg said.
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