Homebuilder sentiment drops more than expected
Nov 17, 2015, 20:30 IST
Homebuilder sentiment unexpectedly fell, as the National Association of Homebuilders housing-market index came in at 62.
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Economists had estimated that the index for November stayed unchanged month-on-month at 64. The prior month's print was revised up to a ten-year high of 65.
The index is designed to gauge the current sentiment and six-month outlook of NAHB members on market conditions for new home sales.