Builder confidence still sagging

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Homebuilder sentiment rose slightly in February above a record low reported in January, according to a National Association of Home Builders-Wells Fargo Housing Market Index report released Tuesday.

The index, which is based on builders’ response to a set of survey questions and is more than 20 years old, remained in single digits for the fourth straight month in February, rising to nine — an index score below 50 indicates that more builders view sales conditions as poor than good.