U.S. homebuilders’ outlook improved in July and is back at pre-pandemic levels as the housing market continued to lure buyers looking for more space and attracted by record-low interest rates.
A gauge of builder sentiment jumped to a preliminary 72, a 14-point gain from June, according to the National Association of Home Builders/Wells Fargo Housing Market Index. Analysts surveyed by Bloomberg expected a reading of 61. A rating above 50 is considered positive. July’s increase followed a 21-point uptick in June.