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U.S. Housing Market Index Rises To New Six-Year High In December

Homebuilder confidence in the U.S. improved for the eighth straight month in December, according to a report released by the National Association of Home Builders on Tuesday, with the housing market index rising to a new six-year high.

The report showed that the NAHB/Wells Fargo Housing Market Index climbed to 47 in December from a revised 45 in November. Economists had expected the index to edge up to 47 from the 46 originally reported for the previous month.

With the increase, the housing market index rose to its highest level since reaching a reading of 51 in April of 2006.

by RTTNews Staff Writer

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