Morning Minute: Homebuilder confidence sees biggest jump in nearly a decade

Homebuilder confidence climbed 6 points in July, marking the biggest jump since September 2002, according to today’s National Association of Home Builders/Wells Fargo Housing Market Index, Bloomberg reports. Said Barry Rutenberg, chairman of the National Association of Home Builders (NAHB):

“Builder confidence increased by solid margins in every region of the country in July as views of current sales conditions, prospects for future sales and traffic of prospective buyers all improved. This is greater evidence that the housing market has turned the corner as more buyers perceive the benefits of purchasing a newly built home while interest rates and prices are so favorable.”

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