U.S. home builders Confidence on 50 for the first time in 7 years

Confidence among homebuilders U.S. jumped in June and surpassed a key level for the first time since the start of the housing crisis , in a vote of confidence by the recovery of the sector , showed data released Monday by the Association national Home Builders (NAHB , for its acronym in English ) .

The Housing Market Index NAHB / Wells Fargo rose to 52 from 44 in May, easily surpassing forecasts of 45 .

Readings above 50 means more builders view market conditions as favorable as poor. It was the first time the index has been above that dividing line since April 2006 and was the highest level since March of that year .

“Overcoming this important level reflects the fact that builders are seeing better market conditions at a time when demand for new homes increases ,” he said in a statement the president of the NAHB , Rick Judson .

” With the low inventory of existing homes , a growing number of buyers are feeling attracted to the new houses ,” he added .

Confidence among home builders has been strengthened in the past year and a half, with a recovery in real estate in general. The rate is higher than 23 June 2012 points.

A rise in prices, tighter inventories and better sales have helped the housing market recovery .

Home builders felt even more optimistic about the coming months. Measuring sales expectations for single family homes in the next six months accelerated to 61 from 52 .

The single-family home sales component rose to 56 from 48, while traffic of prospective buyers climbed to 40 from 33 .


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