October home builder sentiment up

WASHINGTON (BestGrowthStock) – Home-builder sentiment rose for the first time in five months as builders are starting to see “some flickers of interest” among potential buyers, according to a survey on Monday that continued to show weakness in the housing market.

The National Association of Home Builders/Wells Fargo Housing Market Index rose more than expected to 16 from last month’s 13.

Economists polled by Reuters expected a rise to 14.

A reading above 50 indicates that more builders view sales conditions as good than poor. The index has not been above 50 since April 2006.

(Reporting by Corbett B. Daly; Editing by Theodore d’Afflisio)

October home builder sentiment up