Home-Builder Confidence Declines In February: NAHB

[Purveyor]

Source: MarketWatch

WASHINGTON (MarketWatch) — A gauge of confidence among homebuilders declined in February, the first weakening since April, due, in part, to ongoing headwinds from economic uncertainty and strict lending standards, according to the National Association of Home Builders/Wells Fargo Housing Market Index released Tuesday.

The index ticked down to 46 in February from 47 in January. Analysts polled by MarketWatch had expected a February result of 48.

The index has barely moved in recent months after substantial gains in much of 2012. To explain the recent pause in confidence gains, NAHB also cited rising materials costs and limited labor availability in certain markets.

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