A gauge of confidence among home builders ticked up in March, but remained close to the lowest level since May and signaled that builders, generally, are pessimistic about sales trends, according to data released Monday. The National Association of Home Builders/Wells Fargo housing-market index rose one point to 47 this month. "Builders continued to be affected by poor weather and difficulties in finding lots and labor," said Kevin Kelly, NAHB's chairman. March is the second consecutive month that the index has been below a key reading of 50 (readings under 50 signal that builders, generally, are pessimistic). Economists polled by MarketWatch had expected March's reading to climb to 50 after plunging in February to 46. The builder-confidence gauge hit a recent peak of 58 in August, which was the highest level since 2005.
Source: Marketwatch
Source: Marketwatch
