Homebuilder confidence down this month

Daniel Acker | Bloomberg | Getty ImagesBy Diana Olick | CNBC

Sentiment among U.S. homebuilders fell more than expected in November, according to a monthly industry index, with scarcity of land and labor continuing to stymie growth. Builder confidence fell three points to 62 on the National Association of Home Builders/Wells Fargo Market Index (HMI). Anything above 50 is considered positive sentiment. October’s reading was revised up by one point.

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