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"Builders are seeing greater interest among potential buyers as employment and consumer confidence slowly improve"
- David Crowe, NAHB Chief Economist
Homebuilder sentiment increased for a fourth consecutive month in January, said the National Association of Home Builders on Wednesday. The NAHB/Wells Fargo Housing Market index rose to 25 from 21 in December. Reading above 50 indicates negative outlook.
"Builder confidence has now risen four months in a row, with the latest uptick being universally represented across every index component and region," noted Bob Nielsen, chairman of the National Association of Home Builders (NAHB).
"Builders are seeing greater interest among potential buyers as employment and consumer confidence slowly improve in a growing number of markets, and this has helped to move the confidence gauge up from near-historic lows in the first half of 2011," noted NAHB Chief Economist David Crowe.