WASHINGTON (11/19/13)--A home builders' trade association released data on Monday that shows industry confidence unchanged in November.
The National Association of Home Builders/Wells Fargo Housing Market Index this month held steady at a downwardly revised level of 54.
The November survey also showed an index of current sales conditions unwavering at 58, and measures of expectations for future sales and traffic of prospective buyers both dipping slightly by one point--to 60 and 42, respectively.
The index, broken down geographically, showed most fluctuation in the Midwest, where it dropped three points to 60. It did not change in the South or West, holding steady at 56 and 60, and increased by one to 39 in the Northeast.
NAHB executives said that the U.S. Congress' inability to come up with a lasting budget is undermining confidence in the industry.
The trade association has been conducting the survey--measuring builder perceptions of single family home sales and expectations for a half-year--for 25 years.