By Jann Swanson | Mortgage News Daily
Builder confidence just hit its highest level since December, reaching the second highest level since well before the housing crisis began. The National Association of Home Builders (NAHB) said its Housing Market Index, which it produces in conjunction with Wells Fargo, rose 2 points in May to 70. In what was described as a post-election surge, the index rose to a post-crisis high of 71 in December, only to fall back into the mid-to-high 60s. Analysts polled by Econoday had expected the index to remain at its April level of 68.
