Economy

US homebuilder confidence sinks in February

By Associated Press, Alex Veiga
Published February 18, 2014 5:00am ET
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US homebuilder confidence sinks in February
In this Jan. 10, 2014, photo, Trevor Davis puts concrete on stone for the foundation of a new home, in Pepper Pike, Ohio. The National Association of Home Builders reports on sentiment among U.S. builders on Tuesday, Feb. 18. (AP Photo/Tony Dejak) | Tony Dejak

U.S. homebuilders’ confidence in the housing market has declined sharply as the severe weather battering much of the nation keeps many would-be buyers at home.

Storms and cold weather dampened builders’ outlook for sales ahead of the spring home-selling season and could further slow the pace of home construction.

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Associated Press Department of Housing and Urban Development Real Estate