Builders’ belief in the new single-family home market held steady in March, the National Association of Home Builders says.

The NAHB-Wells Fargo Housing Market Index was at 58 on a 100-point scale.

"Confidence levels are hovering above the 50-point mid-range, indicating that the single-family market continues to make slow but steady progress," said NAHB Chairman Ed Brady, a home builder and developer from Bloomington, Illinois.  "However, builders continue to report problems regarding a shortage of lots and labor."