Daily Economic Indicator: Home builder confidence beats forecast

02/16/2010 | Bloomberg

The National Association of Home Builders/Wells Fargo index of home builder confidence rose higher than expected, indicating that the housing market is stabilizing. "The housing recovery remains quite tenuous and that could be the case until employment growth resumes," said Sal Guatieri, a senior economist at BMO Capital Markets. The report shows home builders are "feeling less gloomy about the outlook."

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