Home builder sentiment rose to its highest level in nearly a decade this month. According to the NAHB Housing Market Index, home builder confidence rose from 61 up to 62. That was better than the consensus expectation of 61 and was also the highest reading since October 2005. As shown in the table to the right, both Present Sales and Traffic increased this month while Future Sales dropped. Like the headline index, both Present Sales and Traffic are also at their highest levels since October 2005. In terms of regional sentiment, home builders in the Northeast, Midwest, and South all saw improved confidence this month while sentiment in the West was unchanged. For all three regions, sentiment is at or near its highest levels of the current expansion.