Housing Index Rises

The NAHB Housing Market Index jumped in April, rising from 64 in March to 69, according to the National Association of Home Builders.In addition, the index gauging builder sentiment about the current single-family sales market rose six points to 76, as did the measure of expected sales over the next six months. The reading for prospective homebuyer traffic declined one point to 48, the NAHB said. "We expect the demand for single-family homes to remain quite strong in coming months, despite the rise in long-term mortgage rates, as growth in employment and household income accelerates," said NAHB chief economist David Seiders. Anything above 50 in the index and its components, which are based on surveys of hundreds of builders, means homebuilders believe that the single-family housing market is doing well. The NAHB can be found online at http://www.nahb.com.