Builder confidence in the market for newly built, single-family homes rose one point to 47 in April from a downwardly revised March reading of 46 on the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI).
"Builder confidence has been in a holding pattern the past three months," said Kevin Kelly, NAHB chairman , a home builder and developer from Wilmington, Del. "Looking ahead, as the spring home buying season gets into full swing and demand increases, builders are expecting sales prospects to improve in the months ahead."