U.S. Homebuilder Confidence Unexpectedly Rebounds In May

India, May 18 -- After reporting a notable deterioration in U.S. homebuilder confidence in the previous month, the National Association of Home Builders released a report on Monday showing an unexpected improvement in homebuilder confidence in the month of May.

The report said the NAHB/Wells Fargo Housing Market Index climbed to 37 in May after slumping to a seven-month low of 34 in April. Economists had expected the index to remain unchanged.

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Published by HT Digital Content Services with permission from RTT News....