Builder Confidence Hits Six-Year High
Washington, DC, Oct. 16, 2012 -- Home builder confidence in October edged higher to the best reading in more than six years, according to the National Association of Home Builders/Wells Fargo housing market index.
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The index rose 1 point to 41, marking the highest level since June 2006.
Economists anticipated a slightly better read of 42.
The index has surged from as low as 17 a year ago.
A reading of more than 50 indicates that more builders than not see good conditions.