facebook
twitter
rss
account
search
search
 

Builder confidence up for four months

Aug. 15, 2012 at 11:26 AM   |   Comments

WASHINGTON, Aug. 15 (UPI) -- U.S. builder confidence rose for the fourth consecutive month in August, the National Association of Home Builders said Wednesday.

"From the builder's perspective, current sales conditions, sales prospects for the next six months and traffic of prospective buyers are all better than they have been in more than five years," said Barry Rutenberg, chairman of the trade group.

"We have come a long way from the depths of the recession and the outlook appears to be brightening," he said in a statement.

The trade group said Tuesday that the Home Builders/Wells Fargo Housing Market Index for builder confidence added two points in August to reach 37, putting the index at its highest level since February 2007.

NAHB Chief Economist David Crowe said the recovery in the housing market was "still at a very fragile stage."

However, "this fourth consecutive increase in builder confidence provides further evidence of the gradual strengthening that's occurring in many housing markets and providing a needed boost to local economies," he said.

© 2012 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Recommended UPI Stories
Featured UPI Collection
trending
Celebrity Couples of 2014 [PHOTOS]

Celebrity Couples of 2014 [PHOTOS]

Most Popular
1
E-3 Sentry aircraft tipped for digital cockpit, avionic systems makeover E-3 Sentry aircraft tipped for digital cockpit, avionic systems makeover
2
Norways Kongsberg to demo missile for U.S. Navy Norways Kongsberg to demo missile for U.S. Navy
3
Tony Hayward: Kurdish oil sector open for business Tony Hayward: Kurdish oil sector open for business
4
Saab producing vehicle protection system for unidentified customer Saab producing vehicle protection system for unidentified customer
5
Mexican Navy to build Damen vessels Mexican Navy to build Damen vessels
Trending News
Video
x
Feedback