Homebuilder confidence in the U.S. is at its highest level in almost ten years in the month of July, the National Association of Home Builders revealed in a report on Thursday.
The report said the NAHB/Wells Fargo Housing Market Index came in at 60 in July, unchanged from the upwardly revised reading for June.
Economists had expected the index to come in at 59, which would have been unchanged from the reading originally reported for the previous month.
The NAHB said the housing market index is now at its highest level since reaching a reading of 61 in November of 2005.
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