Homebuilder confidence in the U.S. has unexpectedly seen a continued improvement in the month of August, the National Association of Home Builders revealed in a report on Wednesday, with the homebuilder confidence index reaching a new five-year high.
The report showed that the NAHB/Wells Fargo Housing Market Index climbed to 37 in August from 35 in July. The increase came as a surprise to economists, who had expected the index to come in unchanged compared to the previous month.
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