U.S. home builders’ sentiment increased in June to the highest level in more than five years, according to a report released by the National Association of Homebuilders on Monday.
The housing market index was 29 this month, up a point from a month earlier and the highest level since May 2007. May’s reading was revised downward by a point to 28.
In June, the HMI component measuring current sales conditions rose two points to 32, which is its highest level since April of 2007, the report showed.
Meanwhile, the components measuring sales expectations in the next six months and traffic of prospective buyers held unchanged at 34 and 23, respectively.
According to the report, the Midwest and West showed increases, while the Northeast and the South showed decreases. Regionally, the index grew by five points in the Midwest and four points in the West. It fell by three points in the Northeast and two points in the South.
