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Home-builder confidence highest in seven months: NAHB

Published: Aug 18, 2014 9:55 a.m. ET

By
RUTH
MANTELL
ECONOMICS REPORTER

WASHINGTON (MarketWatch) -- A gauge of confidence among home builders rose in August to the highest level in seven months, increasing two points to 55, according to National Association of Home Builders/Wells Fargo data released Monday. Readings above 50 signal that builders, generally, are optimistic about sales trends. August marks the second consecutive month of above-50 readings. Recent optimism among builders is due to job growth and low mortgage rates, among other factors, according to NAHB. NAHB's gauge of builders' views on upcoming sales of single-family homes rose two points to 65 in August, while a barometer of builders' views on present sales rose two points to 58. A gauge of prospective-buyer traffic increased three points to 42.
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