BULLISH BUILDERS: The National Association of Home Builders/Wells Fargo builder sentiment index increased to 40 in September. That’s up from 37 in August and the highest reading since June 2006, just before the housing bubble burst. Any reading below 50 indicates negative sentiment about the housing market.
BETTER OUTLOOK: A measure of builders’ current sales, outlook for sales in the next six months and turnout by prospective buyers each returned to levels not seen since 2006.
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CONSTRUCTION BOUNCE?: The latest survey suggests that new home construction is likely to increase over the next six months.
