The NAHB Homebuilder Sentiment Index came in at its highest level since June 2006 this morning at 40 versus estimates for an increase to 38. In case you haven't already noticed, the residential housing market is coming back!
As shown in the table to the right, both the index and each of its subcomponents showed increases in September. While Future Sales hit their highest levels since early 2007, Present Sales and Traffic both came in at their highest levels since the summer of 2006.
On a region by region basis, sentiment increased across the board. The only area of the country that did not see a new multi-year high in homebuilder sentiment was the Northeast.
To see charts of the NAHB Homebuilder Sentiment Index and each of its subcomponents, please click here.
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