Home-builder confidence rose in August to the highest level in nearly eight years, on gains in both current sales conditions and prospective ones, according to a report released Thursday The National Association of Home Builders/Wells Fargo housing market index rose 3 points to 59, marking the fourth rise in a row
Economists polled by MarketWatch had expected a 55 Reading
July's level was downwardly revised by a point to 56
Any reading above 50 is considered "good."
The component measuring current sales conditions rose 3 points to 62, the component measuring sales expectations in the next six months rose a point to 68, and the component measuring traffic of prospective buyers was unchanged at 45
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