Builder confidence remained unchanged at a level of 62 in March, according to the National Association of Home Builders/Wells Fargo Housing Market Index.

Affordability remains a top concern for builders, along with the skilled worker shortage.

"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," NAHB Chief Economist Robert Dietz stated.

Confidence levels above 50 indicate more builders view housing market conditions as good than poor.