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Investing.com - The National Association of Home Builders/Wells Fargo housing market index held steady in November, compared to expectations for a modest increase, industry data showed on Monday.
In a report, NAHB said that its Housing Market Index held steady at 54.0 in November, unchanged from October and missing estimates for a rise to 55.0.
A level above 50.0 indicates a favorable outlook on home sales, below indicates a negative outlook.
Commenting on the report, NAHB Chairman Rick Judson said, “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.”
Following the release of the data, the U.S. dollar was lower against the euro, with EUR/USD adding 0.32% to trade at 1.3540.
Meanwhile, U.S. stock markets turned mixed. The Dow Jones Industrial Average rose 0.2%, the S&P 500 shed 0.1%, while the Nasdaq 100 declined 0.35%.
In a report, NAHB said that its Housing Market Index held steady at 54.0 in November, unchanged from October and missing estimates for a rise to 55.0.
A level above 50.0 indicates a favorable outlook on home sales, below indicates a negative outlook.
Commenting on the report, NAHB Chairman Rick Judson said, “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.”
Following the release of the data, the U.S. dollar was lower against the euro, with EUR/USD adding 0.32% to trade at 1.3540.
Meanwhile, U.S. stock markets turned mixed. The Dow Jones Industrial Average rose 0.2%, the S&P 500 shed 0.1%, while the Nasdaq 100 declined 0.35%.