US home builders remain optimistic that the housing market will improve, but their expectations for sales over the next six months have dimmed just as the spring home-selling season gets under way.
The National Association of Home Builders/Wells Fargo builder sentiment index held steady at 58 this month.
Readings above 50 indicate more builders view sales conditions as good, rather than poor.
The index had been in the low 60s for eight months until February.
Builders’ view of current sales conditions held steady, while a measure of traffic by prospective buyers increased.
But builders’ outlook for sales over the next six months declined to the lowest level in 12 months.