Builders boost confidence

Sales conditions, expectations more upbeat in February

Builder confidence inched higher in February, according to a report released today by the National Association of Home Builders.

The index gained two points to 17 this month, up from 15 in January, the report said.

The NAHB/Wells Fargo Housing Market Index is made up of three components the association uses to gauge total builder confidence. It asks for builders’ impressions of current single-family home sales and sales expectations for the next six months ("good", "fair" or "poor") and for the rate of prospective buyer traffic they’ve seen ("high to very high", "average" or "low to very low").