An index of home builders’ confidence rose in September for the third month in a row as the National Association of Home Builders said that its Housing Market Index, which it compiles for Wells Fargo, rose one point last month to 19 — the highest level since May 2008. Construction of single-family homes and apartments rose 1.5 percent to an annual rate of 598,000 units, the highest level since November, the Commerce Department said Thursday. Building permits issued in the first six months of this year increased from the same period last year in 10 metropolitan areas, including Lake Charles; Beaumont, Tex.; Fayetteville; Salt Lake City; Huntsville, Ala.; and Little Rock, Ark. David Crowe, chief economist for the National Association of Home Builders in Washington, says builders are largely limiting work to projects that would appeal to first-time homebuyers, the market’s strongest segment.
