After surging in June, the Housing Market Index, a measure of builder confidence, shot up again in July, climbing six points to 57, its highest reading since January 2006, the National Association of Home Builders reported Tuesday. The two month 13-point gain was the strongest two-month increase since January-February 1992 when the index improved 14 points.
The June index was revised down to 51 from the originally reported 52, but was still positive, that is, above 50, for the first time since April 2006. Economists had expected the July index to remain at 52.
The strong July numbers – following a still-strong June – gave further evidence to a recovery in the housing sector.
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