Confidence among U.S. homebuilders plunged in February by the most on record as bad weather limited prospective buyer traffic and depressed sales.
The National Association of Home Builders/Wells Fargo sentiment gauge slumped to 46 this month from 56 in January, figures from the Washington-based group showed Tuesday. Readings less than 50 mean more respondents reported poor market conditions than good. The measure was weaker than the most pessimistic projection in a Bloomberg survey of economists.
