Homebuilders Reel In Hope for Spring

The spring home buying season may be off to a slow start, as homebuilder confidence slipped back into a five-month holding pattern, according to a report released Monday.

Builder confidence fell to a score of 16 this month after climbing to a year-high of 17 in March, according to the National Association of Homebuilders/Wells Fargo Housing Market Index.

The index, which tracks homebuilder confidence in new single-family home construction, has remained flat at 16 for five of the past six months. An uptick in March seemed to suggest that spring home buying interest was beginning to pick up, but prevailing obstacles in the housing market continue to keep buyers on the sidelines.