Slowing buyer traffic drove U.S. home builder confidence to the lowest level in four months, though the degree of confidence still remains solid. The Midwest deteriorated most.

As of March, the seasonally adjusted Housing Market Index, a gauge of builder perceptions of current single-family home sales and sales expectations, was 70.

That put the index at its lowest level since November 2017, when it came in at a downwardly revised 69. Still, an index of more than 50 indicates more builders view conditions as good than poor.

Source: Mortgage Daily