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.