June is seeing a rise in confidence among U.S. home builders, Realtor.com reports. Confidence rose five points to a reading of 59 in June, according to the NAHB’s confidence index.
The reading is the highest it’s been in nine months. Economists surveyed by The Wall Street Journal had expected the reading to be 56.
In a statement, NAHB Chief Economist David Crowe said that measures of current and future sales expectations “are at their highest levels since the last quarter of 2005, indicating a growing optimism among builders that housing will continue to strengthen in the months ahead.”
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