Home builders not so confident in February
Monday, March 17, 2014 3:23 PM
Confidence among U.S. home builders rose less than forecast in March, a sign the industry may take time to pick up after inclement weather damped activity earlier in the year, Bloomberg reported. The National Association of Home Builders/Wells Fargo index of builder confidence climbed to 47 from 46 in February, according to a report the Washington-based group released today. The median forecast in a Bloomberg survey of 47 economists was 50. Readings below 50 mean more survey respondents reported poor market conditions than good. This month's reading follows a drop in February that was the biggest on record amid snowstorms that restrained prospective buyers from going out to shop for homes and kept builders from starting work.