Homebuilders grow more optimistic

Homebuilders grow more optimistic

U.S. homebuilders are gradually growing more optimistic about the depressed housing market and believe homes sales could pick up sharply at the beginning of 2012.

The National Association of Home Builders/Wells Fargo said its builder sentiment index rose for a fifth straight month in February to 29, up from 25 in January. The index has climbed 15 points since September and is now at its highest level since May 2007.

Builders have generally become more hopeful during that stretch about current sales, sales six months out, and foot traffic, the report shows.

 

Read more in today's Oregonian.