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News Summary: US homebuilder confidence rises

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The Associated Press | December 18, 2012 11:06 AM EST | AP


OPTIMISTIC BUILDERS: A survey of 441 U.S. homebuilders shows they are feeling more confident in their prospects for sales than they have in more than six and a half years.

THE NUMBERS: The National Association of Home Builders/Wells Fargo builder sentiment index increased to 47 this month, up from a revised 45 in November. That's the highest reading since April 2006, just before the housing bubble burst.

THE SCALE: Readings below 50 suggest negative sentiment about the housing market. The last time the index was at or above that level was in April 2006, with a reading of 51.