WASHINGTON -- U.S. homebuilders are feeling a little less pessimistic about the struggling housing market. But their mood hasn't changed enough to signal a recovery anytime soon.
The National Association of Home Builders says its builder sentiment index rose to 20 in November. That's the highest level since May 2010 and only the second month the index has been at 20 or above in two years. The trade group cited low mortgage rates as a chief factor.
Still, any reading below 50 indicates negative sentiment about the housing market. It hasn't reached 50 since April 2006, the peak of the housing boom.
Last year, the number of people who bought new homes fell to its lowest level on records going back nearly a half-century. Sales this year could fare just as bad.
Builders Most Optimistic Since 2009, For What That's Worth
Aspiring chefs, gourmets and gourmands -- feast your eyes on these delectable kitchens, plucked from some of the finest homes on the market today. If the kitchen truly is the heart of the home, get ready to fall in love with some of the best-kept, cutting-edge and well-equipped tickers this side of Lyon. Bon appétit!
This home is outfitted for large-scale entertaining and has the amenities to show for it: There's a paneled library, butler's pantry, office, pool, guest suite, massage room, spa, home theater -- phew! -- golf room, gymnasium, gift-wrapping room and living room.
And what would a grown-up party house be without an over-the-top kitchen? Crammed with state-of-the-art appliances, this expansive culinary laboratory has two kitchen islands and encompasses a breakfast area with a fireplace.
Location: Beverly Hills, Calif.
Price: $40 million
Sq. Ft.: 13,885
They don't get much more expensive than this giant (though, believe it or not, there do happen to be quite a few houses that dwarf it). This gated mansion offers a swimming pool, tennis courts and, clearly -- at this price -- a whole lot more.
Location: Los Angeles, Calif.
Price: $34.95 million
Sq. Ft.: 15,000 Sq Ft
You can’t buy happiness, but this stunning architectural home is about as close to a Zen investment as you’re likely to find this side of Nirvana. With six bedrooms and 10 baths, you could start your own religious commune in this sprawling contemporary home. And speaking of food for the soul …
Oh, would that we were real Disney princesses! Well, there’s also the princely sum this property costs, but we can dream, can’t we? This palatial estate -- in the Lone Star State, no less -- has everything an aspiring royal could ever want, including a grandiose gourmet kitchen.
This Tuscan-style palace is just what fairy tales are made of -- rustic stone walls, golden chandeliers, and a kitchen island to die for. We may be highlighting killer kitchens this week, but the rest of this modern palace has to be seen to be believed. Swoon!
Location: Sunny Isles Beach, Fla.
Sq Ft: 4,141 Sq Ft
Sitting on a small fortune but aren’t much into mowing the lawn? Then try this tropical fantasy condo on for size. With cerulean blue around every corner of this luxurious beachside home, sit back and enjoy a Mai Tai in your spacious and airy dining room.