US homebuilder confidence soars to 7-year high - MyFoxAustin.com | KTBC Fox 7 | News, Weather, Sports

US homebuilder confidence soars to 7-year high

Posted: Updated:

For the first time in seven years, most U.S. homebuilders are optimistic about home sales, a sign that construction could help drive stronger economic growth in coming months.

The National Association of Home Builders/Wells Fargo builder sentiment index leaped to 52 this month from 44 in May.

A reading above 50 indicates more builders view sales conditions as good, rather than poor. The index hasn't been that high since April 2006, just before the housing market collapsed.

Measures of customer traffic, current sales conditions and builders' outlook for single-family home sales over the next six months also soared to their highest levels in seven years.

Steady job growth, low mortgage rates, rising home prices and tight supplies of homes for sale have supported a recovery in housing this year.

AP-WF-06-17-13 1406GMT

  • Your MoneyMore>>

  • Cooler inventor raises $7 million in two weeks

    Cooler inventor raises $7 million in two weeks

    Thursday, July 24 2014 11:19 AM EDT2014-07-24 15:19:46 GMT

    What is being described as the coolest cooler of the 21st century is getting a lot of backers on via Kickstarter.  Ryan Grepper, an inventor from Portland, Oregon, says he was tired of regular coolers.

    What is being described as the coolest cooler of the 21st century is getting a lot of backers on via Kickstarter.  Ryan Grepper, an inventor from Portland, Oregon, says he was tired of regular coolers.

  • Do mosquito-repellent apps really work?

    Do mosquito-repellent apps really work?

    Wednesday, July 23 2014 11:01 PM EDT2014-07-24 03:01:26 GMT
    What would you do if there was an app that repelled mosquitoes? Well, there are 2 free apps that claim they repel mosquitoes. The Android app from Prothoughts releases high-frequency sound that mosquitoes reportedly don't like. And you can select several frequencies up to 22 kilohertz.The iPhone app from Pico Brothers also claims to drive away mosquitoes. But this one says it cannot guarantee 100 percent success. We went to an expert to see if these types of apps really work.
    What would you do if there was an app that repelled mosquitoes? Well, there are 2 free apps that claim they repel mosquitoes. The Android app from Prothoughts releases high-frequency sound that mosquitoes reportedly don't like. And you can select several frequencies up to 22 kilohertz.The iPhone app from Pico Brothers also claims to drive away mosquitoes. But this one says it cannot guarantee 100 percent success. We went to an expert to see if these types of apps really work.
  • Latest wedding trends and tips

    Latest wedding trends and tips

    Wednesday, July 23 2014 10:35 PM EDT2014-07-24 02:35:07 GMT
    Summer is wedding season. Christal Young reports on some recent wedding trends. Kellee Khalil, the founder of a wedding search engine Lover.ly, gives her take on the trends and also shares some tips.
    Summer is wedding season. Christal Young reports on some recent wedding trends. Kellee Khalil, the founder of a wedding search engine Lover.ly, gives her take on the trends and also shares some tips.
Powered by WorldNow

KTBC FOX 7
119 East 10th Street
Austin, TX 78701

Phone: (512) 476-7777
Fax: (512) 495-7001

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices