Washington, DC, March 16, 2015—U.S. homebuilder sentiment declined for a third straight month in March, but more builders still view market conditions as favorable, says the National Association of Home Builders.
The NAHB/Wells Fargo Housing Index index fell to 53 from 55. Readings above 50 mean more builders view market conditions as favorable than poor.
Reuters reports that the drop in confidence is largely attributable to supply chain issues, such as lot and labor shortages as well as tight underwriting standards.