Industry NewsMarkets & Economy

Builder confidence rebound lackluster

More builders see conditions as 'poor' than 'good'

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Builder confidence rebounded in July to a level not seen since September, but far more builders still see conditions as "poor" than "good," according to a survey by an industry trade group.The National Association of Home Builders/Wells Fargo Housing Market Index rose two points in July, to 17, NAHB said. The index gauges builder perceptions of current single-family home sales and sales expectations for the next six months. When the seasonally adjusted index is above 50, more builders view sales conditions as good than poor.The index is composed of three components, and most of July's gain was in the component gauging current sales conditions, NAHB Chief Economist David Crowe said in a press release.The component of the index gauging traffic of prospective buyers rose a single point to 14, and the component gauging sales expectations for the next six months remained flat at 26.Regionally, the South posted the biggest gain, with a 5-point increase in the index to 20....