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U.S. homebuilder confidence in May was lower than forecast

Posted on 17 May 2011

Michelle MeyerConfidence among U.S. homebuilders was little changed in May as executives turned more pessimistic on the outlook for sales, a sign any pickup will take time to develop.
The National Association of Home Builders/Wells Fargo sentiment index held at 16 this month, lower than the median forecast of economists surveyed by Bloomberg News which projected it would increase to 17, data from the Washington- based group showed today. A measure of sales expectations for the next six months fell to an eight-month low……………………………………….Full Article: Source


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