Market Commentary and Intraday News
News Summary: Builder confidence at 6-year high
216 days ago
By The Associated Press
CONFIDENCE BOOST: The National Association of Home Builders/Wells Fargo builder sentiment index increased to 41 in October. That's up from 40 in September and the highest reading since June 2006, just before the housing bubble burst. Any reading below 50 indicates negative sentiment about the housing market.
UNCHANGED EXPECTATIONS: Measures of builders' current sales and their outlook on sales over the next six months remained unchanged from September's reading.
HEIGHTENED INTEREST: A gauge of traffic by prospective buyers rose 5 points to 35, the highest level since April 2006.
Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.