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Confidence Among Homebuilders in U.S. Falls From 11-Month High

Confidence among U.S. homebuilders cooled in October from an 11-month high, reflecting a pause in the market for single-family houses, according to data from the National Association of Home Builders/Wells Fargo.

Developers’ sentiment may have been restrained by factors including the limited availability of ready-for-building lots and skilled workers. At the same time, mortgage rates still close to historically low levels and a healthy job market will help keep the housing rebound on track.