Homebuilder Sentiment in U.S. Cools From Almost 12-Year High

Confidence among U.S. home builders cooled in April after jumping a month earlier to the highest level since mid-2005, according to data Monday from the National Association of Home Builders/Wells Fargo.

The group’s measure has sustained gains since the November election, with industry participants confident that President Donald Trump’s promises of looser regulation and faster growth will offset challenges, including higher costs for building materials. Mortgage rates, which jumped after the November election, are starting to ease and are now at the lowest level since the week ended Dec. 1. The NAHB’s April measure of potential buyer traffic matched the second-strongest level in almost 12 years, corroborating a report on Thursday that showed consumers have the most favorable views of home-buying since 2005.