Builder confidence climbs from basement

NAHB index at highest level since May 2008

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An index gauging the confidence of home builders rose for the third month in a row in September to its highest level in more than a year, but far more builders still see conditions as poor than good.

The National Association of Home Builders/Wells Fargo Housing Market Index, which measures builder confidence in the market for newly built, single-family homes, rose one point from August to September, to 19 — its highest level since May of 2008.