Daily Real Estate News  |   February 16, 2007  |   Home Builder Sentiment on the Rebound
U.S. home builders are feeling more confident than they have since June 2006.

The National Association of Home Builders /Wells Fargo Housing Market Index jumped to 40 this month from 35 in January. The index hit a 15-year low in September when it dropped to 30. It was at 42 in June 2006 before energy prices and the housing market slowdown discouraged builders.

Readings below 50 indicate more builders view their market conditions as poor rather than favorable. But David Seiders, chief economist for the home builders, says overall builders are growing more optimistic.

“Builders are becoming increasingly convinced that the abrupt downslide in home sales is in their rear view mirrors, and they see better times as they look at the road ahead," Seiders says.

Source: Reuters News, Julie Haviv (02/15/07)