US homebuilder confidence surges to 6-year high

By Qiong (June) Zhang38 Comments

http://seattletimes.com/html/businesstechnology/2019189404_apusbuildersentiment.html

Confidence among U.S. home-builders rose this month to its highest level in six years and many expect the housing recovery will strengthen in the next six months.

The National Association of Home Builders/Wells Fargo builder sentiment index released Tuesday increased to 40 in September. That’s up from 37 in August and the highest reading since June 2006, just before the housing bubble burst.

A measure of builders’ outlook for sales in the next six months rose to 51. That’s up from 43 in August and also the highest level since June 2006.

Sales of both new and previously occupied homes are running ahead of last year. Home prices are increasing more consistently.

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