WASHINGTON (Associated Press) – Home builder confidence in current sales rose two index points in February to 17 after falling two consecutive months, according to the National Association of Home Builders.
Builders’ outlook for sales over the next six months climbed one point to 27, and traffic by prospective buyers remained at 12 index points.
The index for the Midwest and South regions increased two points but dropped one point in the Northeast and West.
The index reflects a survey of 528 residential developers across the nation. Index readings below 50 indicate negative sentiment about the market. The last time the index reading exceeded 50 was April 2006.