Builder confidence in the market for newly built, single-family homes in May fell one point to 45 from a revised April reading of 46 on the Housing Market Index.
Notching their best year since 2008, the nation’s biggest builders took advantage of an improving economy and a better housing market to find revenue in new places.
Compared with the first quarter of 2013, the single-family index increased 4 points to a level of 50, which is the 10th consecutive quarter of year-over-year improvements.