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Uncertainty in the market does not affect the builders' confidence in the US

Confidence in builders of new homes for single families in the USA have not changed in November as market uncertainty continues to defy builders and buyers alike.

The index of the National Association of Home Builders that measures builder confidence was unchanged in November 54 level last month.

Buyers have shown hesitation in the housing market as a result of the recent government shutdown. Increases in mortgage rates are also holding potential buyers, analysts say.

However, while builders continue to struggle with increases in construction costs and low valuations, remain largely optimistic reports NAHB.

"The political and economic uncertainty is affecting consumer confidence," NAHB chief economist David Crowe said in the report. "The fact that builders confidence remains above 50 is an encouraging sign, considering the outstanding debt and federal budget problems cause builders and consumers stay on the sidelines."

The component index measuring current sales remained at 58 in November. On the other hand, the components that measure future sales and traffic of prospective buyers fell from the previous month.

Regionally, confidence remained the same in the south and west, while down in the Midwest and raised in the Northeast.