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November 20, 2012

Homebuilder confidence rises to a 6.5-year high

  • The National Association of Home Builders/Wells Fargo builder sentiment index increased to 46; readings over 50 suggest positive sentiment about the housing market.
  • By ALEX VEIGA
    AP Real Estate Writer

    LOS ANGELES — Confidence among U.S. homebuilders rose this month to its highest level in six and a half years, driven by strong demand for newly built homes and growing optimism that the housing recovery will strengthen next year.

    The National Association of Home Builders/Wells Fargo builder sentiment index released Monday increased to 46, up from 41 in October. That's the highest reading since May 2006, just before the housing bubble burst.


     
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