Builders’ confidence in the new, single-family home market moved up for the sixth month in a row in October, according to the latest reading of the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI). The index edged up 1 point for the month with a reading of 41, the highest seen since June 2006.

The monthly uptick came from the component that measures prospective-buyer traffic. Builders have reported that new customer traffic has started to turn the corner and the news is a promising sign for continuing a gradual recovery of new home construction.

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