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Home Builder Confidence Rises to Highest Level in Six Years

Los Angeles Times (10/17/12) Tiffany Hsu

Home builder sentiment rose this month to the strongest level since June 2006. The one-point gain in the National Association of Home Builders/Wells Fargo index represented the sixth consecutive uptick, while prospective buyer traffic for October climbed five points to a score of 35, the highest level since April 2006. Still, NAHB chairman Barry Rutenberg expressed concern that “overly tight credit conditions are still constraining new building and new purchases.”