Homebuilder Sentiment Rises to Highest Level Since 2007

WASHINGTON -- U.S. homebuilders are growing a little less pessimistic about the depressed housing market after seeing more people say they might be open to buying a home this year.

The National Association of Home Builders/Wells Fargo builder sentiment index rose four points to 25 in January. That's the highest level since June 2007.

Even with the fourth straight increase, the general mood is dim. Any reading below 50 indicates negative sentiment about the housing market. The index hasn't reached 50 since April 2006, the peak of the housing boom.