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Confidence among American homebuilders held steady in February near the highest level since 1999, suggesting that demand for housing is expected to remain strong, according to data Thursday from the National Association of Home Builders/Wells Fargo.

Highlights of NAHB Sentiment (February)

Housing Market Index unchanged at 72 from the prior month (matching est.). Measure of six-month sales outlook climbed 2 points to 80, highest since 2005, Current sales gauge for single-family homes cooled to 78 from 79; index of buyer traffic unchanged at 54.

Key Takeaways

The report signals that home construction will continue to pick up as economic conditions remain favorable. A solid job market and rising wages will keep supporting demand for houses.

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