All three declined in March: current sales to 59, future sales to 57 and traffic to 35. Any number over 50 indicates that more builders view sales conditions as good than poor.
Conceding that builder confidence had taken “a substantial hit,” NAHB Chief Economist David Seiders indicated that falling mortgage interest rates, healthy appreciation in house values and lean inventories of unsold homes all raise the possibility that builder sentiment will rebound quickly in the months ahead.
“It’s more a sense of needing to be cautious heading forward,” he said of the decline in builder confidence.
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