Homebuilder confidence has improved by much more than anticipated in the month of May, according to a report released by the National Association of Home Builders on Wednesday.
The report said the NAHB/Wells Fargo Housing Market Index climbed to 66 in May from 63 in April, while economists had expected the index to inch up to 64.
Following declines in late 2018 due to higher interest rates and concerns over slower growth, the index has reached its highest level since October of 2018.
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Forex News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.