US homebuilder sentiment rose for the fifth month in a row in September to its highest level in over six years in a fresh sign of momentum for the housing market, a report from the National Association of Home Builders showed on Tuesday. The NAHB/Wells Fargo Housing Market index climbed to 40 from August's 37, topping economists' forecasts for 38, according to a Reuters poll.
The measure was at its highest level since June 2006 and is up 26 points from a year ago as the housing market has started to turn a corner. The single-family home sales component rose to 42 from 38. The gauge of single-family sales expectations for the next six months jumped to 51 from 43, while prospective buyer traffic edged up to 31 from 30.
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