Home Builders’ Sentiment Index Up, Again

The National Association of Home Builders confidence index rose to 40 from 38 reaching its highest level since mid-2006 before the housing bust.  This topped most analysts’ forecasts as housing outpaces expectations.  Builders’ expectations for the future also climbed in the latest report.  The news comes amidst further reports of shrinking inventories of available houses and recent increases in home prices.  With recent gains in home prices, some analysts are beginning to look to rising housing wealth — peoples’ wealth in their homes — to contribute to consumer confidence and spending. (see recent story in San Francisco Chronicle)

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