US homebuilder confidence eases in November

Washington

CONFIDENCE among US homebuilders eased in November from a decade-high, indicating some cooling in the housing market.

The National Association of Builders/Wells Fargo sentiment gauge unexpectedly fell to 62 this month from a revised 65 in October, the highest level since October 2005, the Washington-based group reported on Tuesday. Readings above 50 mean more respondents said conditions were good.