Builders Confidence Dips 2-points in March

The latest National Association of Home Builders/Wells Fargo Housing Market Index (HMI) indicates that builder confidence in the market for newly-built single-family homes slipped 2-point lower in March, to a reading of 72. Any reading over 50 indicates that more builders view conditions as good rather than poor. Builder confidence remains strong, however, uncertainty in regards to financial markets and the coronavirus has modestly lowered builders’ expectations for home sales.