The National Association of Home Builders Housing Market Index hit a level of 60 in July, meaning builder confidence in the newly built, single-family housing market is at its highest level since November 2005.
"The fact that builder confidence has returned to levels not seen since 2005 shows that housing continues to improve at a steady pace," said NAHB Chairman Tom Woods in a statement.
He added that the second half of 2015 should see a continued recovery of the housing market.
Regionally, the HMI in the West and Northeast rose three points each to 60 and 47, respectively. One-point gains were seen in the South and Midwest, resulting in levels of 61 and 55, respectively.
Read Next
