Washington, DC, March 17, 2014 -- Homebuilder confidence in March rose one point to 47 on the National Association of Home Builders/Wells Fargo Housing Market Index.
“The March HMI mirrors last month’s sentiment, as builders continued to be affected by poor weather and difficulties in finding lots and labor,” said NAHB Chairman Kevin Kelly.
“A number of factors are raising builder concerns over meeting demand for the spring buying season,” said NAHB Chief Economist David Crowe.
“These include a shortage of buildable lots and skilled workers, rising materials prices and an extremely low inventory of new homes for sale.”
The index’s components were mixed in March. The component gauging current sales conditions rose one point to 52 and the component measuring buyer traffic increased two points to 33. The component gauging sales expectations in the next six months fell one point to 53.