US housebuilder sentiment remains unchanged in May, NAHB reveals

Housebuilder sentiment in the US was unchanged in May for the fourth consecutive month, according to the National Association of Home Builders on Monday.

The housing market index, measuring confidence in the sector, held at 58 this month, above the 50 level that indicates optimism. Analysts had expected a reading of 59 in May.

NAHB said positive sentiment reflected robust demand in the market, boosted by an increase in employment coupled with low interest rates.

“The fact that future sales expectations rose slightly this month shows that builders are confident that the market will continue to strengthen,” Robert Dietz, NAHB’s chief economist.

"However, builders are facing an increasing number of regulations and lot supply constraints.”