Home-builder Confidence Highest in 7 months
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Washington - A report by the National Association of Home Builders/Wells Fargo says that home builders's confidence is at a seven month high.
Home builders' confidence rose to 55 points. Readings above 50 points signal that builders are optimistic about sales trends. August is the second consecutive month of above-50 readings.
David Crowe, NAHB's Chief Economist said, "Builder confidence appears to be firming following an uneven spring. Factors contributing to this rise include sustained job growth, historically low mortgage rates and affordable home prices, which are helping to unlease pent-up demand.