U.S. Homebuilder Sentiment Declines in March as Sales Views Dim

U.S. homebuilder sentiment fell to a four-month low in March as expectations of future sales dimmed amid a virus outbreak that threatens to dent activity across the industry and cause a recession.

The National Association of Home Builders/Wells Fargo Housing Market Index slipped to 72 from 74 in February, according to data Tuesday that fell below the median estimate of 73 in Bloomberg’s survey of economists. Readings above 50 indicate more builders view conditions as good than poor. Half of the responses were collected prior to March 4, according to the report.