Homebuilders Sentiment Index Beats Consensus, Now at 6 Month High

Although released 10 minutes early, the U.S. NAHB homebuilder sentiment index rose to 55 in August, versus the consensus of a reading of 53. This marks the highest level since January's reading of 56. A number above 50 indicates home builders view sales conditions as favorable. The biggest strength came from the Midwest region, with a seasonally adjusted reading of 65, while the Northeast came in weakest at 41. Actual sales of new homes are still lagging behind last year's pace.