Homebuilder Confidence Rises to Six-Year High on U.S. Sales
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Confidence among U.S. homebuilders unexpectedly climbed in November to a six-year high, propelled by the biggest jump in sales in a decade, adding to signs the real-estate market is improving.
The National Association of Home Builders/Wells Fargo index of builder confidence increased to 46, the highest level since May 2006, from 41 in October, figures from the Washington-based group showed today. The median forecast in a Bloomberg survey of 49 economists called for no change. Readings below 50 mean more respondents said conditions were poor.