Building confidence in the market for newly built, single-family homes in April was at 58 on the National Association of Home Builders Housing Market Index, the same level as reported in March and February.
"Builder confidence has held firm at 58 for three consecutive months, showing that the single-family housing sector continues to recover at a slow but consistent pace," said NAHB Chairman Ed Brady in a statement. "As we enter the spring home buying season, we should see the market move forward."
The HMI consists of three components: Sales expectations in the next six months increased to 62 from 61 in March; buyer traffic increased a single point as well, to 44; and current sales conditions fell two points to 63.
The HMI in the Northeast and West fell two points since March to 44 and 67, respectively, in April. The Midwest and South each reported one-point losses to 57 and 58, respectively.
