Builder Confidence Increases

According to the National Association of Home Builders and Wells Fargo Housing Market Index, builder confidence increased by eight points in June bringing it to the highest level since April 2006.

Any number over 50 is an indicator that builders view the housing market more favorably than negatively. This eight point gain in June is the biggest one-month increase since 2002.

NAHB Chairman Rick Judson attributes the growth in new home sales to an increase in home buyers and a low inventory of existing homes.

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