U.S. homebuilders are feeling more confident about their sales prospects, reflecting strong demand for newly built homes with existing homes in short supply. The National Association of Home Builders/Wells Fargo builder sentiment index released Tuesday rose two points to 70 this month. That's up from a revised reading of 68 in April and snaps a four-month slide in builder confidence. The solid sales growth for new homes shows that many would-be buyers can't find existing homes up for sale. The benchmark rate rose steadily for most of April, reaching its highest level in more than four years.

Source: ABC News May 15, 2018 14:02 UTC