News Summary: Builder confidence, sales outlook up

Jul 16, 2013, 3:31 PM

(AP) – STRONGER FOUNDATION: The National Association of Home Builders/Wells Fargo builder sentiment index surged this month, a trend that suggests home construction will accelerate in coming months.

THE NUMBERS: The index, based on a survey of 281 builders, rose to 57 from 51 in June. It was the third consecutive monthly gain. A reading above 50 indicates more builders view sales conditions as good, rather than poor.

TAKING MEASUREMENTS: Measures of customer traffic, current sales conditions and builders’ outlook for single-family home sales over the next six months vaulted to their highest levels in at least seven years.

(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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