LOS ANGELES (AP) — The National Association of Home Builders says its housing market index increased for the second month in a row in May, reflecting growing optimism on the part of many builders.

 

While still near historically low levels, the Washington-based trade association said Monday the index rose two points to 16, it's highest reading since September.

Index readings lower than 50 indicate negative sentiment about the market.

 

The report reflects a survey of 733 residential developers nationwide, tracking builders' perceptions of market conditions. And the index readings for current sales conditions and expectations for sales over the next six months each increased in May.
   
Copyright 2009 The Associated Press.

About Coldwell Banker®
Since 1906, the Coldwell Banker® organization has been a premier full-service real estate provider. In 2008, Franchise Times magazine's prestigious Top 200 issue ranked the Coldwell Banker system No. 1 in real estate for the ninth straight year and 12th among franchisors in all industries. The Coldwell Banker System has approximately 3,500 residential real estate offices and approximately 100,000 sales associates in 47 countries and territories. The Coldwell Banker System is a leader in the industry in residential and commercial real estate, and in niche markets such as resort, new home and luxury property through its Coldwell Banker Previews International® division. It is a pioneer in consumer services with its Coldwell Banker Concierge ® Service Program and award-winning Web site, www.coldwellbanker.com. Coldwell Banker Real Estate LLC is a subsidiary of Realogy Corporation, a global provider of real estate and relocation services. Coldwell Banker® is a registered trademark licensed to Coldwell Banker Real Estate LLC. Each office is independently owned and operated.