Homebuilder confidence hits five-year high

Homebuilder confidence hits five-year high

U.S. homebuilder confidence is at a five-year high, with many hoping that sales of new homes will strengthen this year.

The National Association of Home Builders/Wells Fargo builder sentiment index surged six points this month to 35, the highest reading since March 2007, the trade association said Tuesday.

Any reading below 50 indicates negative sentiment about the housing market. And the index hasn't reached that level since April 2006, the peak of the housing boom.

Read more at OregonLive.com.

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