Summary Box: US homebuilder outlook near high

AP News
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Posted: Mar 19, 2012 3:50 PM
Summary Box: US homebuilder outlook near high

NO CHANGE: The National Association of Home Builders/Wells Fargo said Monday that its U.S. builder sentiment index stayed at 28 in March. That's the highest level since 2007 and it followed five straight monthly increases.

BETTER FUTURE: Builders were more confident about home sales over the next six months. A separate gauge measuring that outlook rose March for the sixth straight month.

STILL WEAK: The housing industry has a way to go before it's fully healthy. Any reading below 50 indicates negative sentiment about the housing market. The index hasn't hit 50 since April 2006.