US homebuilders confidence eases up
U.S. homebuilders' confidence eased this month after surging to the highest level in nearly a year in September. The National Association of Home Builders/Wells Fargo builder sentiment index released Tuesday fell two points this month to 63 following a reading of 65 in September. A strengthening job market and mortgage rates hovering near all-time lows have helped stoke demand for homeownership, pushing up sales of new and previously occupied homes. That, in turn, has been good news for homebuilders. "The October reading represents a mild pullback from a jump in September, and indicates that the housing market continues to make slow and steady gains," said Robert Dietz, the NAHB's chief economist.
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