Sentiment for U.S. homebuilders drops 12th consecutive month

WASHINGTON, Dec. 19 (Xinhua) -- Builders of U.S. homes were less confident about their enterprises in December, a new report found on Monday.

Sentiment among single-family home builders fell 2 points to 31 in December, said the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index.

That is significantly lower than the same period last year when the reading stood at 84. Any number below 50 is thought to be negative.

When calculated by region, the sentiment was weakest in the West, where home prices are high, and strongest in the Northeast United States.

The NAHB said high mortgage rates were the cause of weak homebuilder sentiment.