Builder Confidence Up Again in January

In January, for the fourth month in a row, builders reported improved confidence about the market for newly built, single-family homes, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI). The index rose four points to a reading of 25 for the month, bringing it to the highest level seen since June 2007. (The index requires a reading of more than 50 to indicate that a majority of builders see conditions as "good" rather than "poor.") The NAHB attributed the improvement to strengthening employment numbers and a rise in consumer confidence, which, in January, reported a fifth consecutive month of improvements, according to the Reuters/Michigan Consumer Sentiment Index.

Click here to view this article from its source.