US homebuilder sentiment climbs in August

U.S. homebuilders are feeling extra optimistic about their gross sales prospects, reflecting a pickup in demand and constructive expectations about additional progress the remainder of this yr.

The Nationwide Affiliation of Residence Builders/Wells Fargo builder sentiment index launched Tuesday rose to sixty eight this month. That is up 4 factors from a studying of sixty four in July and the very best degree since Might.

Readings above 50 point out extra builders view gross sales circumstances nearly as good quite than poor. The index has been above 60 since September.

The August index beat analyst predictions, which referred to as for a studying of sixty four, in accordance with FactSet.

Readings gauging builders’ view of gross sales now and over the subsequent six months additionally rose from final month. A measure of visitors by potential consumers additionally elevated.

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