India, April 16 -- The National Association of Home Builders released a report on Wednesday unexpectedly showing a slight improvement by U.S. homebuilder confidence in the month of April.
The report said the NAHB/Wells Fargo Housing Market Index inched up to 40 in April after falling to 39 in March. Economists had expected the index to dip to 37.
With the unexpected increase, the housing market index regained ground after hitting a seven-month low in the previous month.
"The recent dip in mortgage rates may have pushed some buyers off the fence in March, helping builders with sales activity," said NAHB Chairman Buddy Hughes.
He added, "At the same time, builders have expressed growing uncertainty over market conditions as tariffs have i...