Builder confidence is firm heading into spring, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index. The Index’s March reading was 62; in February, it was also 62. At 51 or higher, the general outlook is positive.
“Builders report the market is stabilizing following the slowdown at the end of 2018 and they anticipate a solid spring home-buying season,” said Greg Ugalde, chairman of the NAHB, in a statement.
“In a healthy sign for the housing market, more builders are saying that lower price points are selling well, and this was reflected in the government’s new-home sales report,” said Robert Dietz, chief economist at the NAHB. “Increased inventory of affordably priced homes—in markets where government policies support such construction—will enable more entry-level buyers to enter the market.”