After remaining in hibernation for four months at 58, home builder sentiment finally stirred and rose two points to 60 in June, according to the National Association of Home Builders. As MarketWatch reports, this is the highest reading since January and it eclipsed the predicted reading of 59 by one point.
Meanwhile, the index sub-gauge, which looks at current conditions, rose one point to 64. The gauge that covers the next few months, however, experienced a much larger increase of five points and rose to 70. Not since last fall’s 10-year high has the index showed a rating this good.
The traffic gauge also rose to 47, but as it remains below the 50 mark, there are still more survey respondents who consider it to be negative than positive. This gauge has not risen above 50 since the height of the housing bubble.