Home Builder Sentiment Improves Slightly

Washington, DC, February 19, 2008-- Home-builder sentiment improved unexpectedly in February according to the National Association of Home Builders.

The NAHB/Wells Fargo Housing Market index rose 1 point to 20 in February from 19 in January, according to a news release. The index had fallen to 18 in December, the lowest level since the survey began in January 1985.

Despite the improvement, the index remains well below the peak of 72 reached in June 2005.

"Housing has always been a major engine of economic growth, and despite the ongoing market correction, it will once again be that engine in the future," said new NAHB President Sandy Dunn, a home builder from Point Pleasant, West Virginia.

"But in order for that to happen, Congress must follow up on its recently enacted economic stimulus program by passing legislation that will jump-start the housing market and keep the economy moving forward."