U.S. Housing Market Index Comes In Unchanged In April, In Line With Estimates

(RTTNews) - Homebuilder confidence in the U.S. came in flat in the month of April, the National Association of Home Builders revealed in a report released on Monday.

The report said the NAHB/Wells Fargo Housing Market Index came in at 51 in April, unchanged from March and in line with economist estimates.

The unchanged reading halts a four-month advance by the housing market index, which reached its highest level since last July in the previous month.

"April's flat reading suggests potential for demand growth is there, but buyers are hesitating until they can better gauge where interest rates are headed," said NAHB Chief Economist Robert Dietz.