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U.S. homebuilder outlook improves

Reuters
11:07 AM, E.T. | October 18, 2010
Real Estate, U.S.

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Homebuilder sentiment rose for the first time in 5 months as builders are starting to see "some flickers of interest" among potential buyers, according to a survey on Monday that continued to show weakness in the housing market.

The National Association of Home Builders/Wells Fargo Housing Market Index rose more than expected to 16 from last month's 13.

Economists polled by Reuters expected a rise to 14.

A reading above 50 indicates that more builders view sales conditions as good than poor. The index has not been above 50 since April 2006.

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