Mumbai, Oct. 17 -- A report released by the National Association of Home Builders on Thursday showed homebuilder confidence in the U.S. has improved by much more than anticipated in the month of October.
The report said the NAHB/Wells Fargo Housing Market Index jumped to 37 in October after holding steady at 32 in September.
With the much bigger than expected increase, the housing market index reached its highest level since hitting 40 in April.
The surge by the headline index partly reflected a sharp increase by the index gauging future sales, which shot up to 54 in October from 45 in September.
The component measuring current sales conditions also climbed to 38 in October from 34 in September, while the gauge charting traffic of prosp...