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US homebuilder sentiment hits highest level since 2005

(AP Photo/John Locher)

U.S. homebuilders are feeling more confident in their sales prospects than they’ve been since the high-flying housing boom days a decade ago.

The National Association of Home Builders/Wells Fargo builder sentiment index released Thursday rose this month to 60, the highest level since November 2005.

The latest reading is unchanged from May, which was revised upward one point from 59.

Readings above 50 indicate more builders view sales conditions as good, rather than poor.

Builders’ view of current sales conditions and their outlook for sales over the next six months also rose. A measure of traffic by prospective buyers fell slightly.

The latest reading comes after sales of new homes surged in May to the strongest pace since February 2008.

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