Confidence among U.S. homebuilders climbed in August to the highest level in more than five years, affirming the improvement in residential construction, Bloomberg.com reported August 15, 2012.
The National Association of Home Builders/Wells Fargo builder confidence index rose to 37, higher than projected and the best rating since February 2007, the Washington-based group reported. The forecast in a Bloomberg survey of economists called for no change from July’s 35 rating; however, ratings below 50 mean more respondents said conditions were poor.
Builders are benefiting as less-expensive properties and record-low mortgage interest rates persuade consumers to buy new homes.
They have a point, I think they were right.
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