Home builder sentiment on the rise

U.S. home builder sentiment has risen to its highest level since May 2008, according to a report from the National Association of Home Builders. The NAHB/Wells Fargo Housing Market index rose to 19 this month from 18 in August. In January this year, the index hit an all-time low of 8. Even though this new figure marks progress, CNBC said that scores below 50 are not ideal. David Crowe, chief economist with NAHB, said that the new score indicates a small improvement. “Today’s report indicates that builders are starting to see some glimmers of light at the end of the tunnel in terms of improving sales activity,” Crowe said.