WASHINGTON (MarketWatch) — A measure of home-builder confidence in October rose to the highest level since the end of the housing boom. The National Association of Home Builders/Wells Fargo housing market index rose 3 points to 64, the highest level since the same month of 2005. Economists polled by MarketWatch had expected a reading of 62, on a scale where any reading above 50 is considered good. The index measuring sales expectations in the next six months rose seven points to 75, and the component gauging current sales conditions increased three points to 70. The index on buyer traffic held steady at 47, NAHB said.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News