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Homebuilder confidence increases

July 17, 2014 12:00 am • Last Updated: October 31, 2014 9:31 am

Confidence among U.S. homebuilders rose more than forecast in July, reaching the highest level in six months, as growing payrolls brightened the outlook after a shaky first half.

The National Association of Home Builders/Wells Fargo sentiment measure climbed to 53 from 49 in June, the Washington-based group reported Wednesday. Readings above 50 mean more respondents said conditions were good. The housing market is showing signs of improvement after higher mortgage rates and harsh winter weather stalled the recovery earlier this year. A strengthening labor market will probably support further progress in the industry.

- Bloomberg News

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