US builder confidence falls on weak supply, labor

  • Associated Press March 18, 2013

Confidence among U.S. homebuilders fell this month because of concerns that limited land, building materials and labor will slow sales in the short term. But builders’ outlook for sales over the next six months reached its strongest point in more than six years, suggesting the decline is temporary.

The National Association of Home Builders/Wells Fargo builder sentiment index fell to 44 from 46 in February. It was the second decline since January. Measures of customer traffic and current sales conditions both declined from February’s reading.

Readings below 50 suggest negative sentiment about the housing market. The last time the index was at 50 or higher was in April 2006.

The index began trending higher in October 2011, when it was 17. That coincided with the start of a housing recovery.


blog comments powered by Disqus

Mylan announces plans for low-cost AIDS treatment

Construction spending rises to highest level in 8 years

Factory activity drops in Nov.; first decline in 3 years

GM, Fiat Chrysler sales up in November, but Ford was flat

Cyber Monday sales still on top, but losing some luster

Fed moves to bar bailouts of failing firms

Pending homes sales edge up in October

PA Mug Co. owner moves to new studio space in Waynesburg

On the money: Making sure green home upgrades pay off

Dakota city that grew on fracking reaching out for more retail