Builders' confidence in the market for new single-family homes gained in February, as the National Association of Home Builders' housing market index — a monthly gauge of builder sentiment — rose to 17 from January's 15, the group announced yesterday.
Thomson Reuters' poll of economists predicted a level of 16.
"Builders are just beginning to see the anticipated effects of the home buyer tax credit on consumer demand," according to NAHB chief economist David Crowe. "Meanwhile, another source of encouragement is the improving employment market."
