U.S. homebuilders are feeling slightly less optimistic about their sales prospects, even as their overall outlook remains favorable.
The National Association of Home Builders/Wells Fargo builder sentiment index released Monday slipped to 68 this month. That’s down three points from 71 in March, when it jumped to the highest level since June 2005.
Readings above 50 indicate more builders view sales conditions as good rather than poor. The index has been above 60 since September.
The April reading fell short of analyst predictions. They expected the index to dip to 70, according to FactSet.
Readings gauging builders’ view of sales now and over the next six months also edged lower, as did a measure of traffic by prospective buyers.
Despite the decline in the latest builder sentiment survey, sales of new U.S. homes have been robust this year and are expected to continue climbing.
Low mortgage rates and a solid