By Diana Olick | CNBC
A lean supply of homes for sale is boosting confidence among U.S. homebuilders. A monthly sentiment survey from the National Association of Home Builders rose three points in August to 59.
This is the fourth consecutive monthly gain. The index is now at its highest level in nearly eight years. (Anything over 50 is considered positive).
“Builders are seeing more motivated buyers walk through their doors than they have in quite some time,” said NAHB Chairman Rick Judson, a home builder from Charlotte, N.C. “Firming home prices and thinning inventories of homes for sale are contributing to an increased sense of urgency among those who are in the market.”
