US homebuilder confidence steady ahead of elections in November, NAHB says

Confidence among US homebuilders was steady in November ahead of the president elections.

The National Association of Home Builders Housing Market Index was unchanged in November at 63.0, as expected by economists.

“With most of our members responding before the November elections, confidence levels remained unchanged as they awaited the results,” said NAHB Chairman Ed Brady.

"Still, builder sentiment has held well above 60 for the past three months, indicating that the single-family housing sector continues to show slow, gradual growth.”

A subindex tracking buyer traffic edged higher by one point to 47.0 and that referencing current sales conditions held at 69.0.

However, a subindex for sales expectations over the next six months fell two points to 69.0.