U.S. Homebuilder Sentiment Gauge Rises From a Three-Year Low

Sentiment among U.S. homebuilders rose for the first time in three months amid a decline in borrowing costs, a sign that housing may stabilize in the year ahead even as the industry remains in a broad slowdown.

The National Association of Home Builders/Wells Fargo Housing Market Index increased to 58 in January from a three-year low of 56 in the prior month, according to a report Wednesday. The median estimate of economists called for the gauge to be unchanged.