U.S. homebuilders are feeling positive about the current housing market, but their level of confidence hasn't moved in four months.
A monthly index of sentiment by the National Association of Home Builders (NAHB) registered 58 yet again in May. Fifty is the line between positive and negative sentiment. The index stood at 54 one year ago and hit a recent high of 65 last October.
"Builder confidence has held steady at 58 for four straight months, which indicates that the single-family housing sector remains in positive territory," said NAHB Chairman Ed Brady, a homebuilder and developer from Bloomington, Illinois. "However, builders are facing an increasing number of regulations and lot supply constraints."