NAHB Housing Market Index Falls One Point

Washington, DC, April 18, 2011 -- The National Association of Home Builders/Wells Fargo Housing Market Index fell by a point to 16 in April.

That's the level it's been at for five of the last six months.

Economists had expected the gauge to stay at 17.

"While builders in some areas are starting to see a pickup in traffic of prospective home buyers, many consumers remain skittish about the health of the housing market and overall economy, particularly in view of recent legislative and regulatory proposals that could make it much harder to get a mortgage," noted NAHB Chairman Bob Nielsen.