Single-family home builder confidence slipped for the third consecutive month, falling two points to 44 for March, according to the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). MHProNews has learned any number above 50 indicates the outlook for the next six months is good rather than poor. NAHB Chief Economist David Crowe says the infrastructure that supports home-building has to re-establish itself. “During the Great Recession, the industry lost home building firms, building material production capacity, workers who retreated to other sectors and the pipeline of developed lots. The road to a housing recovery will be a bumpy one until these issues are addressed, but in the meantime, builders are much more optimistic today than they were at this time last year.” Regionally, the West gained four points, the Northeast remained unchanged, and the South and Midwest each lost a point.
