An index measuring the confidence of home builders was up a couple of notches from October. It’s the second month the index, released by the National Association of Home Builders, has turned up, after logging a 15-year low in September.
From the MarketWatch report:
“More and more builders are seeing light at the end of the tunnel,” said David Pressly, president of the NAHB and a builder based in Statesville, N.C.
But, as usual, a bunch of economists are saying that light at the end of the tunnel, if it’s there yet, is too dim to start cheering.
Tomorrow the Commerce Department will release its data on the nationwide home construction activity last month. Stay tuned.