Architizer
Economists estimate that the index ticked up to 61 from 60 in the prior period. Last month, the index climbed to the highest level since November 2005.
The index is based on a survey of NAHB members to gauge their assessment of the single-family housing market.
In a preview to clients, Nomura economists wrote, "The NAHB housing market index is near prerecession levels, but housing starts remain depressed relative to historical standards, suggesting that there is still room for growth in the housing sector. Optimistic homebuilder sentiment, coupled with improving household fundamentals, could support a sustained rebound in the housing market in the medium term. Mortgage applications for purchases index declined in the first week of August, but residential construction employment rose last month."