Despite low-interest rates and a budding job market, the National Association of Home Builders and Wells Fargo reported a 1 point dip in homebuilder confidence for November 2019.
"Single-family builders are currently reporting ongoing positive conditions, spurred in part by low mortgage rates and continued job growth," NAHB Chairman Greg Ugalde said, according to HousingWire.
"In a further sign of solid demand, this is the fourth consecutive month where at least half of all builders surveyed have reported positive buyer traffic conditions."
The report also revealed that sales conditions and buyer traffic decreased in points. Sales expectation on the other hand, increased.
"The three-month moving averages for regional HMI scores show the Northeast increased to 62 points, the South grew to 74 points, the West climbed to 81 points and the Midwest held steady at 58 points," according to the report.
To learn more about the decline in homebuilder confidence, click on the image above.