Confidence Among U.S. Homebuilders Increases to Nine-Month High

Confidence among U.S. homebuilders rebounded in June to a nine-month high as warmer weather and a brighter economic outlook drew prospective buyers back to the market.

The National Association of Home Builders/Wells Fargo builder sentiment gauge rose to 59 this month, the strongest since September and exceeding all projections in a Bloomberg survey, from 54 in May, figures from the Washington-based group showed Monday. The median survey forecast called for 56.