Homebuilder sentiment index soars 5 points:USA

[LahoreEstate]

LOS ANGELES: The National Association of Home Builders says its housing market index posted its biggest one-month jump in five years in April as many homebuyers seized on lower prices and incentives. While still near historically low levels, the Washington-based trade association said Wednesday the index rose five points to 14, it’s highest reading since October. Index readings lower than 50 indicate negative sentiment about the market. The report reflects a survey of 360 residential developers nationwide, tracking builders’ perceptions of market conditions. Builders’ gauge of current sales conditions, buyer traffic and expectations for sales over the next six months each increased in April. ap

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