US Builder Confidence Holds Steady In November
U.S. homebuilders' confidence in the housing market held steady this month, but many are worried that another fight over the federal budget could cause would-be buyers to put off home purchases.
The National Association of Home Builders/Wells Fargo builder sentiment index stayed at 54 this month. October's reading was revised one point lower from its initial estimate.
Readings above 50 indicate more builders view sales conditions as good, rather than poor.
A measure of current sales conditions was unchanged. Builders' outlook for single-family home sales over the next six months fell one point.
Most builders are optimistic that the housing recovery will endure. Still, many expressed concerns that sales could falter if lawmakers fail to reach a budget deal early next year and shut down the government again.
Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.