For the second month in a row, confidence among American home builders was stronger — rising to the second-highest level in more than a decade. The Northeast drove the improvement.

At 70 for November, the seasonally adjusted Housing Market Index was the highest it’s been since March, when it was determined to be 71, and the second-highest level since July 2005.

An index that exceeds 50 is an indication that there are more U.S. home builders who view conditions in the new home market than those who view them as poor.

Source: Mortgage Daily