Builder confidence in the residential construction sector remained stagnant this month, but the housing market has been a very active place for consumers.
At the beginning of March, it was found that builder confidence fell two points to a mark of 44, according to a report from the National Association of Home Builders. An index below 50 indicates the majority of builders view current conditions as poor, rather than good.
"Following eight consecutive months of improvement, builder confidence leveled off in January and has since edged down several points," noted NAHB chairman Rick Judson.
Although the falling confidence level could result in a thinner property inventory in the near future, many consumers are still very active throughout the marketplace.
In February, real estate records indicate the number of closed residential sales increased 2.3 percent on an annual basis and 0.7 percent from the previous month, according to a report from Redfin. Meanwhile, the nationwide housing inventory plummeted an estimated 32 percent from February 2012, which could prompt even more competition among prospective buyers as the spring and supper seasons ramp up.