Confidence among U.S. homebuilders rose in January to the highest level in more than four years as sales and buyer traffic improved.
The National Association of Home Builders/Wells Fargo sentiment gauge increased to 25 this month, exceeding the median forecast of economists surveyed by Bloomberg News and reaching the highest level since June 2007, the Washington-based group said today. Readings lower than 50 mean more respondents still said conditions were poor.
By Alex Kowalski
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