US builders seeing brighter times
Nikhil Kumar is The Independent's New York correspondent. He was formerly assistant editor on the foreign desk and has also done a variety of jobs on the city desk, where he wrote about markets, commodities and other business and economics topics.
Tuesday 18 June 2013
America's housebuilders have turned positive on their industry's prospects for the first time since the housing crash.
An index produced by the National Association of Home Builders and Wells Fargo, the country's largest mortgage lender, rose above the 50-point mark in June, the first time it has done so since April 2006.
Readings below 50 mean builders consider market conditions to be poor. Anything about that level is a sign of confidence. In May, the index was 44. June's reading is 52 points, following months of data showing improvements in the housing market, with sales and prices trending positive.
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