Confidence among U.S. homebuilders held in November
at a four-month low as buyer traffic and sales outlooks retreated.
The National Association of Home Builders/Wells Fargo
builder sentiment gauge was unchanged at 54 from a revised October reading that
was weaker than initially estimated, the Washington-based group reported today.
The median forecast in a Bloomberg survey projected it would come in at 55. Readings above 50 mean
more respondents reported good market conditions.
The 16-day partial government shutdown and political
wrangling over the nation’s budget have taken a toll on consumer sentiment,
causing some would-be buyers to delay spending decisions. Higher mortgage rates
also are holding back gains in real estate, which has been a source of strength
for the economic expansion.
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