Home-builder confidence edges up

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For the first time in nine months, home-builder confidence increased by one point to 17 out of 100 for March, The Wall Street Journal reported.

March 15, 2011

For the first time in nine months, home-builder confidence increased by one point to 17 out of 100 for March, The Wall Street Journal reported.

Although a 17 on the National Association of Home Builders/Wells Fargo Housing Market Index is still a poor score, the improvement is seen as a victory for the struggling industry.

Stock prices for many home builders are once again in the black, which does lend some support to the index. But analyst reaction varied from cautiously optimistic to neutral and negative.

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