U.S. homebuilders are feeling more optimistic about their sales prospects this month than they have since the beginning of the year.
The National Association of Home Builders/Wells Fargo builder sentiment index released Thursday rose two points to 60. That’s the highest reading since January.
Readings above 50 indicate more builders view sales conditions as good, rather than poor. The index had been in the low 60s for eight months until February, when it slipped to 58. It held steady there for another three months.
Builders’ outlook for sales over the next six months and a measure of traffic by prospective buyers both climbed to the highest level since November. A gauge of builders’ view of current sales also rose.
The latest survey of builders comes as the housing market is showing signs of growth after a weak start to the spring home-selling season.