The Housing Market Index reaches a 16-Month high

According to home builders around the country, the housing market is looking good. Each month, the National Association of Home Builders releases its Housing Market Index Report, a survey meant to "take the pulse of the single-family housing market". Respondents report on three facets of their business, each series weighted and averaged:

1. How are market conditions today?
2. How do market conditions look 6 months from now?
3. How is the traffic of prospective buyers of new homes?

For the 3rd straight month, the Housing Market Index improved. It's now at its highest level since May of 2008. The housing market has shown signs of life since March. Both Existing Home Sales and New Homes Sales have soared and home values are up in a lot of towns. Builders showing confidence is another positive signal. Fed Chairman Ben Bernanke said that the recession is "very likely over" and.....

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