HOMEBUILDER CONFIDENCE SURGES TO 9-YEAR HIGH

Homebuilder confidence is high in America.

The NAHB housing market index jumped to 59 in September from 55 in August.

This was stronger than the 56 expected by economists. It was also the highest reading since November 2005.

“Since early summer, builders in many markets across the nation have been reporting that buyer interest and traffic have picked up, which is a positive sign that the housing market is moving in the right direction,” the NAHB’s Kevin Kelly said.

NOW WATCH: Money & Markets videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.