Homebuilder confidence in the U.S. was unchanged for the second consecutive month in April, the National Association of Home Builders revealed in a report on Monday.
The report said the NAHB/Wells Fargo Housing Market Index came in at 58 in April, unchanged from March. The index had been expected to inch up to 59.
"Builders remain cautiously optimistic about construction growth in 2016," said NAHB Chief Economist Robert Dietz. "Solid job creation and low mortgage interest rates will sustain continued gains in the single-family housing market in the months ahead."
The component measuring sales expectations in the next six months and the index gauging buyer traffic both rose by a single point to 62 and 44, respectively.
On the other hand, the NAHB said the component charting current sales conditions fell to 63 in April from 65 in March.
The Commerce Department is scheduled to release a separate report on new residential construction in the month of March on Tuesday.
Housing starts are expected to drop to an annual rate of 1.167 million in March from 1.178 million in February, while building permits are expected to climb to 1.200 million from 1.167 million.
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May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.