Confidence grows among builders

The National Association of Home Builders/Wells Fargo builder sentiment index reached 41, its highest level in 6 years. This was the best reading since June 2006 before the market crash. The index hasn't been above 50 since April 2006, the point at where the index sentiment turns positive. The index dropped as low as 8 in January 2008. This is yet another indicator the housing market may be headed towards a sustained recovery. Sales of new homes remained at near their 2 year high in August.