Home Builder Confidence Near Nine-Year High

Washington, DC, Sept. 17, 2014 -- The National Association of Home Builders/Wells Fargo housing market index rose to nearly a nine-year high in September.

NAHB said that its Housing Market Index increased to 59.0 this month from 55.0 in August, above expectations for a reading of 56.0.

Readings above 50.0 indicate a favorable outlook on home sales.