News Summary: US builder confidence dips in March

News Summary: Builder confidence survey slips on weak supply, labor; sales outlook improves

Associated Press

CONFIDENCE SLIPS: The National Association of Home Builders/Wells Fargo builder sentiment index declined this month on homebuilders' concerns over the availability of ready-to-build land, building materials and workers as demand for new homes grows.

THE NUMBERS: The index, based on a survey of 341 builders, fell to 44 from 46 in February. It was the second decline since January. Readings below 50 suggest negative sentiment about the housing market.

OUTLOOOK STRONG: Despite land supply and other concerns, builders' outlook for sales over the next six months reached its strongest point in more than six years.

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