News Summary: Builder confidence dips in February
CONFIDENCE SLIPS: Confidence among U.S. homebuilders slipped this month from the 6½ year high it reached in January, according to the National Association of Home Builders/Wells Fargo builder sentiment index.
THE NUMBERS: The index, based on a survey of 402 builders, dipped to 46 from 47 in January. It was the first monthly decline in the index since April. Readings below 50 suggest negative sentiment about the housing market.
MIXED READINGS: Measures of traffic by prospective customers and current sales conditions both declined from January's readings. Builders' outlook for sales in the next six months improved, however.