NAHB home-builder gauge jumps 4 points to 18 – Marketwatch

By Steve Goldstein

Fixes to reflect that April 2010 was when the
homebuyer tax credit ended.

WASHINGTON (MarketWatch) – Home-builder confidence in October rose by the
largest amount since the ending of the now-expired home-buyer tax credit
program, though the gauge remains mired at historically weak levels, according
to an index released Tuesday. The National Association of Home Builders/Wells
Fargo housing market index rose by four points to 18, the biggest one-month gain
since April 2010. The index, which measures builder confidence in the market for
new-built single-family homes and is closely correlated with single-family
housing starts data, came in stronger than the 14 reading seen by a
MarketWatch-compiled economist poll. That said, the index – designed so that a
reading of 50 is consistent with a “good” assessment – is still not back to
pre-recession levels. The index hasn’t been above 50 since April 2006

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