Home Builders Confidence Hits Highest Level Since 2006

According to the monthly Housing Market Index released by the National Association of Home Builders, confidence in the housing market rose in July to 57 out of 100, representing its highest level since January 2006 and the third straight monthly increase. The index is based on current and expected sales and the number of houses being built.

While the July index shows improvement in builder confidence across every region of the U.S., two potential problems for the housing market remain: a scaling back of the home mortgage interest deduction and legislation to phase out Fannie Mae and Freddie Mac.

Read the full article at The Business Journals