WASHINGTON, Aug. 15 (Xinhua) -- U.S. builder confidence for newly-built, single-family homes edged up to the highest level in almost eight years in August, a leading industry report said on Thursday.
The builder sentiment index gained 3 points to 59 this month, the highest level since November 2005, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI). Any reading over 50 indicates that more builders view sales conditions as good rather than poor.
"Builders are seeing more motivated buyers walk through their doors than they have in quite some time," said NAHB Chairman Rick Judson.
In August, two of the three HMI components posted gains. The component gauging current sales conditions increased 3 points to 62, the highest level since January 2006, and the component measuring sales expectations for the next six months rose by one point to 68, the highest since October 2005. But the component measuring traffic of prospective buyers held unchanged at 45.