Homebuilders Are More Confident

Confidence among U.S. homebuilders improved significantly in June, showing its biggest increase since 2002. The National Association of Home Builders/Wells Fargo Housing Market index rose to 52 in June from 44 the previous month. The index has risen 23 points from a year earlier. The report noted that a majority of homebuilders believe conditions for new construction are favorable (rather than poor), for the first time since the housing crisis began seven years ago.

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