Builder sentiment rose for the fifth consecutive month in February, according to the National Association of Builders’ Housing Market index. The index measures builder confidence in the market for newly built, single-family homes on a scale where any number over 50 means more builders view the market as good than poor. In February, the index rose from 25 to 29 and reached its highest level in more than four years. David Crowe, NAHB’s chief economist, said this is the longest sustained improvement the index has seen since 2007 but cautioned that the HMI is still low. Still, builder confidence has now doubled since last September. The gauges measuring current sales and expectations for the next six months both rose by five points in February. More here.
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