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Builder confidence increases in January

Home builder confidence increased in January for the fourth consecutive month.

Home builder confidence increased in January for the fourth consecutive month.

Statistics recently released showed that builder confidence increased for the fourth straight month in January, which likely means moving trucks will be seen more often around the country.

Builder confidence for newly built, single-family homes increased four points to 25 on the NAHB/Wells Fargo Housing Market Index, which is the highest level the index has been since June 2007.

“Builders are seeing greater interest among potential buyers as employment and consumer confidence slowly improve in a growing number of markets, and this has helped to move the confidence gauge up from near-historic lows in the first half of 2011,” NAHB Chief Economist David Crowe said. “That said, caution remains the word of the day as many builders continue to voice concerns about potential clients being unable to qualify for an affordable mortgage, appraisals coming through below construction cost, and the continuing flow of foreclosed properties hitting the market.”

The housing market index guages how homebuilders perceive current single-family home sales and sales expectations for the next six months as "good," "fair" or "poor." The survey also asks homebuilders to rate traffic of perspective buyers as "high to very high," "average" or low to very low."

The recently released U.S. Economic and Housing Market Outlook by Freddie Mac show that home sales are expected to grow between 2 and 5 percent year-over-year.