US home builder confidence sentiment dips

The US National Association of Home Builders/Wells Fargo Housing Market Index fell to 63 - down from 65 last time.

NAHB Chairman Ed Brady said: "Even with this monthÂ’s drop, builder confidence stands at its second-highest level in 2016, a sign that the housing recovery continues to make solid progress. However, builders in many markets continue to express concerns about shortages of lots and labour."