Home builder confidence hits five-year high

Home builder confidence hits five-year high

U.S. homebuilder sentiment rose in August to its highest level in more than five years, a fresh sign that the battered housing market is turning the corner, data from the National Association of Home Builders showed on Wednesday.
The NAHB/Wells Fargo Housing Market index gained to 37 this month from 35 in July, the group said in a statement, topping economists' expectations for it to hold steady with last month.
It was the highest level since February 2007 and the fourth month in a row sentiment has improved. The index has surged by more than 20 points since last summer, though it is still far from the 50 mark that shows more builders view market conditions as favorable than poor.......

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