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2012.10.1611:14:00UTC+00U.S. Housing Market Index Reaches New Six-Year High In October

Homebuilder confidence in the U.S. edged slightly higher in October, according to a report released by the National Association of Home Builders on Tuesday, with the increase lifting homebuilder confidence to a new six-year high.

The report showed that the NAHB/Wells Fargo Housing Market Index inched up to 41 in October from 40 in September. The increase, which matched economist estimates, lifted the index to its highest level since coming in at 42 in June of 2006.

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