NAHB Housing Market Index Shows Builder Confidence Slip In March
The National Association of Home Builders (NAHB) released its NAHB/Wells Fargo Housing Market Index for March on Monday. The HMI measures builder confidence in the market for newly constructed single family homes. A reading of 50 for the NAHB Housing Market Index (HMI) indicates that more builders are confident of housing market conditions for new single family homes than those who are not confident. Home builder confidence fell for the third consecutive month with a two-point drop to a reading of 44 in March. Several Factors Create New Home Bottleneck An NAHB leader noted that several situations are causing a…