US real Estate builders ' confidence picks up

The housing bust may be near the bottom of the National Association of Residential Builders said in May that the US Property Builder confidence index reached its highest level since September last year, suggesting that the housing bust could be close to the bottom. In May, the US Property Builder confidence index rose from 14 in April to 16, in line with market expectations and rebounded for the second consecutive month, the report showed.　　Falling house prices, falling mortgage rates, and the government's tax rebate policy have prompted some buyers to come in and make the real estate market better.　　Jerry Howard, chief executive of the National Association of Residential Builders, said the two-month rally in builders ' confidence is an encouraging sign that the housing market is nearing its bottom and that the market is stabilizing.　　He expects the U.S. housing market to hit bottom this summer and will linger at the bottom before the fall, and then start to rebound. In January this year, the US real estate Builders Confidence index was only 8, the lowest level since the index was established in 1985.