U.S. home builder sentiment stabilizes in November: NAHB

A completed house is seen behind the earthworks of a home currently under construction in BrandywineU.S. homebuilder confidence stabilized in November after falling for two straight months, though steady home demand was tempered by worries about further fiscal battles in Washington, the National Association of Home Builders said on Monday. "Given the current interest rate and pricing environment, consumers continue to show interest in purchasing new homes, but are holding back because Congress keeps pushing critical decisions on budget, tax and government spending issues down the road," the Washington-based industry group's chairman Rick Judson said in a statement. "The fact that builder confidence remains above 50 is an encouraging sign, considering the unresolved debt and federal budget issues cause builders and consumers to remain on the sideline," NAHB Chief Economist David Crowe said in the same statement from the group. Though tension over fiscal issues remains, the jump in mortgage rates this summer has been the main culprit behind the disruption in the housing recovery.



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