Buyer Interest Leaves Homebuilders Less Gloomy

Buyer interest leaves homebuilders less gloomyWASHINGTON (AP) - U.S. homebuilders are growing less pessimistic about the housing market, despite tighter lending standards that have slowed home sales.

The National Association of Home Builders/Wells Fargo builder sentiment index rose four points to 25 in January. That's the highest level since June 2007. It's just the third time the index has been at 20 or above in two years.

Still, any reading below 50 indicates negative sentiment about the housing market. The index hasn't reached 50 since April 2006, the peak of the housing boom.

The index is rising because builders are optimistic that sales will rise this year. In 2011, they fell and are likely to be the lowest level on records going back nearly a half-century.

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The home building market is a joke and all of the reporting that goes with it. There are so many segments, locales
price ranges that whatever is reported is just numbers that mean nothing.

January 18 2012 at 1:42 PM Report abuse +1 rate up rate down Reply

Play it anyway you want but America is in a world of hurt While Obama campaigns, attends parties, raises millions for his re-election, let's Michelle have the unlimited credit card

January 18 2012 at 11:45 AM Report abuse rate up rate down Reply