Homebuilders’ pessimism eases a bit
Rising interest from would-be buyers is leaving U.S. homebuilders less pessimistic about the housing market. But tighter lending standards are still keeping many potential buyers from purchasing new homes. The National Association of Home Builders/Wells Fargo builder sentiment index rose two points to 21 in December. That’s the highest level since May 2010. It’s just the second time the index has been at 20 or above in two years. Still, any reading below 50 indicates negative sentiment about the housing market. The index hasn’t reached 50 since April 2006, the peak of the housing boom.