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Builder Confidence Edges Up In March

March 18th, 2014 | Written by | Leave A Comment

ConstructionThe National Association of Home Builders Housing Market Index measures builder confidence in the market for newly-built, single-family homes. The index gauges builders’ perceptions of current sales, buyer traffic, and expectations for the next six months on a scale where any number above 50 indicates more builders view the market as good than poor. In March, the index rose a point to 47 after a 10-point drop in February resulted in the first monthly reading below 50 since May of last year. Kevin Kelly, NAHB’s chairman, said the March reading mirrors last month’s sentiment, as builders continue to be affected by poor weather and difficulty finding available lots and labor. The results of the index’s individual components show increasing optimism about current conditions and traffic but concerns over future sales. Still, despite falling, the component tracking sales expectations over the next six months remains in positive territory with a reading of 53. Regionally, three-month moving averages for the Northeast, Midwest, South, and West all declined in March

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