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Builder confidence rises for eighth straight month

December 18, 2012 03:00PM

Builders are increasingly bullish about the newly built single-family home market, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index. The index of builder confidence rose for the eighth consecutive month, and its current level of 47 is the highest it’s been since April 2006. The trend is indicative of the gradual recovery of the nationwide housing market, said David Crowe, NAHB’s chief economist, “that we expect to continue in 2013.” Scores above 50 represent positive builder sentiments on the scale, which spans 1-100. [more]