facebook
twitter
rss
account
search
search
 

Builder confidence index losses steam

Oct. 16, 2013 at 12:39 PM   |   Comments

WASHINGTON, Oct. 16 (UPI) -- A U.S. home builders confidence index fell in October after a prolonged climb, the National Association of Home Builders said Wednesday.

The index of confidence among building professionals in an industry battered during the recession reached a nearly eight-year peak in August, then turned flat in September.

But in October, the index gave up 2 points and September's reading was revised downward, the trade group said.

The so-called NAHB/Wells Fargo Housing Market Index settled down to a reading of 55, the monthly report said.

"A spike in mortgage interest rates along with the paralysis in Washington that led to the government shutdown and uncertainty regarding the nation's debt limit have caused builders and consumers to take pause," said NAHB Chief Economist David Crowe in a statement.

Topics: Wells Fargo
© 2013 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Most Popular
1
Boeing announces job relocations, business unit consolidation Boeing announces job relocations, business unit consolidation
2
Outrage over FERC decision on LNG exports Outrage over FERC decision on LNG exports
3
IS oil smugglers will feel wrath, Kurdish leader says IS oil smugglers will feel wrath, Kurdish leader says
4
Thales to research next-gen active radar antenna Thales to research next-gen active radar antenna
5
Exxon says it's safe from Russian sanctions Exxon says it's safe from Russian sanctions
Trending News
x
Feedback