Home builder confidence remains low

The National Association of Home Builders/Wells Fargo Housing Market Index remained in the single digits in February for the fourth consecutive month, meaning that home builders have seen no improvement in the market for new single-family homes, the association said. An index over 50 indicates that home builders consider sales conditions to be good; February’s index was 9. On a positive note, the index rose from 8, its historic low, in January. And, current sales conditions and buyer traffic improved slightly, the NAHB’s monthly service, from the which the index is calculated, found. TRD