Home-builder sentiment climbed in November for the seventh straight month to the highest level in more than six years, according to data released Monday that shows the continued improvement in the housing market. The National Association of Home Builders/Wells Fargo housing market index rose 5 points to a seasonally adjusted level of 46, the highest point since May 2006. The gauge historically tracks closely with single-family housing starts, though of late the magnitude of gains has been stronger with the sentiment index than with the hard data.
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