Here Comes Homebuilder Confidence...

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brooklyn construction

AP Photo/Mark Lennihan

The July NAHB housing market index (HMI), a gauge for homebuilder confidence, is out at 10 a.m. ET.

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Economists polled by Bloomberg are looking for homebuilder confidence to rise to 50, from 49 in June.

Following a severe winter, homebuilder confidence is starting to improve.

A reading over 50 shows that more builders view conditions as good than poor.