WASHINGTON — Confidence among U.S. homebuilders fell this month because of concerns that increased demand for new homes is exceeding supplies of ready-to-build land, building materials, and workers.
In the short term, those constraints could slow sales. But builders’ outlook for sales over the next six months has reached its strongest point in more than six years.
The National Association of Home Builders/Wells Fargo builder sentiment index released Monday fell to 44 from 46 in February.
It was the second consecutive decline after eight straight monthly gains.