the first time in seven years, most U.S. homebuilders
are optimistic about home sales, a sign that
construction could help drive stronger economic growth
in coming months.
National Association of Home Builders/Wells Fargo
builder sentiment index leaped to 52 this month from
44 in May.
reading above 50 indicates more builders view sales
conditions as good, rather than poor. The index hasn't
been that high since April 2006, just before the
housing market collapsed.
of customer traffic, current sales conditions and
builders' outlook for single-family home sales over
the next six months also soared to their highest
levels in seven years.
job growth, low mortgage rates, rising home prices and
tight supplies of homes for sale have supported a
recovery in housing this year.