Thursday, June 28, 2012
Builder Confidence Reaches Five Year High in June
Builder confidence ticked up in June to reach the highest level seen since May 2007, according to the National Association of Home Builders/Wells Fargo Housing Market Index, released today. The index was up one point for the month for a reading of 29. “This month’s modest uptick in builder confidence comes on the heels of a four-point gain in May and is reflective of the continued, gradual improvement we are seeing in many individual housing markets as more buyers decide to take advantage of today’s low prices and interest rates,” said Barry Rutenberg, chairman of the National Association of Home Builders (NAHB).