US homebuilder confidence holds steady in November
U.S. homebuilders’ confidence held steady this month, though their expectations for sales into next year dimmed slightly.
The National Association of Home Builders/Wells Fargo builder sentiment index released Wednesday was unchanged at 63. That’s two points below September’s reading, which was the highest in nearly a year, and up one point from a year ago.
Readings above 50 indicate more builders view sales conditions as good rather than poor. The index has been above 60 the past three months after hovering in the high 50s much of this year.
The latest builder sentiment index is in line with what analysts polled by FactSet were expecting.