NEW YORK ( TheStreet) -- Homebuilder confidence rose to a nearly eight-year high in August, the National Association of Home Builders said on Thursday.
The NAHB/Wells Fargo Housing Market Index rose for the fourth consecutive month to 59, as builders grew encouraged by firming home prices and rising demand amid a tight supply for homes.
But there is a disconnect between the sentiment as portrayed by the index and actual homebuilder activity. Housing starts are rising but they still remain well below normal.
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