Homebuilder Confidence in U.S. Holds at Highest Since 2007

Confidence among U.S. homebuilders held in March at the highest level since June 2007 as sales expectations climbed for a sixth month.

The reading of 28 in the National Association of Home Builders/Wells Fargo index of builder confidence was less than projected and followed a February figure that was lower than initially reported, figures from the Washington-based group showed today. The median forecast of economists surveyed by Bloomberg News called for a rise to 30. Readings below 50 mean more respondents said conditions were poor.