Investing.com - The National Association of Home Builders/Wells Fargo housing market index rose more than expected in June, industry data showed on Monday.
In a report, NAHB said that its Housing Market Index increased to 49.0 this month from 45.0 in May, beating estimates for a rise to 47.0.
A level above 50.0 indicates a favorable outlook on home sales, below indicates a negative outlook.
“After several months of little fluctuation, a four-point uptick in builder sentiment is a welcome sign and shows some renewed confidence in the industry,” said NAHB Chairman Kevin Kelly.
Following the release of the data, the U.S. dollar held on to losses against the euro, with EUR/USD adding 0.16% to trade at 1.3563.
Meanwhile, U.S. stock markets were mixed after the open. The Dow dipped 0.1%, the S&P 500 rose 0.1%, while the Nasdaq 100 picked up 0.1%.