Builder confidence on the rise?

BusinessWeek reports that "U.S. homebuilders seem to be coming out of hibernation as the gloom over the housing market begins to lift. " A National Association of Home Builders/Wells Fargo Housing Market Index reported a slight increase in builder confidence, as the index measuring builder confidence in the current market for newly built single-family homes rose 3 points. Another index measuring the traffic of prospective buyers rose 1 point.

This level of confidence is the highest it's been since September 2008, so perhaps things really are starting to turn around. We can certainly hope.