Homebuilder sentiment spikes 7 points, Trump has them feeling fantastic

A worker carries lumber as he builds a new home in Petaluma, California. Getty Images
A worker carries lumber as he builds a new home in Petaluma, California.
Getty Images

By Diana Olick | CNBC

Call it the Trump rally in homebuilding — not the stocks, but the sentiment of the builders themselves.

A monthly reading of homebuilder confidence spiked 7 points in December, its first measure done after the presidential election.

The National Association of Home Builders/Wells Fargo Housing Market Index (HMI) rose to 70, the highest level since July 2005. Fifty is the line between positive and negative sentiment. The index has not jumped by this much in one month in 20 years. It stood at 60 one year ago.

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