US Homebuilder Sentiment Increases to an Eight-Month High
- NAHB index rose for a fourth month on lean resale inventory
- Measure of sales expectations advanced to highest since June
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Sentiment among US homebuilders climbed to an eight-month high in March as a limited number of existing homes for sale and mortgage rates that are down from their peak spurred demand.
The National Association of Home Builders/Wells Fargo index of housing market conditions increased by 3 points to 51, according to data released Monday. The median estimate in a Bloomberg survey of economists called for a reading of 48.