Tax credits, low interest rates lead to 2-point boost in homebuilder sentiment index
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The builders group says the index reached 17 in February, after falling for two consecutive months.
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The increase shows builders are feeling better about their prospects as evidence emerges that the job market may be improving. But challenges still exist, such as a high number of foreclosures and a lack of financing for new projects.
The index reflects a survey of 528 residential developers across the U.S. Index readings below 50 indicate negative sentiment about the market. The last time it was above 50 was in April 2006.