Builder confidence remains near record low

Index shows monthly decline in short-term sales outlook

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Builder confidence remained steady in March, according to the latest National Association of Home Builders (NAHB)-Wells Fargo Housing Market Index report released Monday.

A rating below 50 signals builders view sales conditions as poor — the index stood at 9 for March — it was the fifth straight month the overall index has held steady. The index hit a record low at 8 in January.