Home Builder Optimism Declines in February

A gauge of U.S. home builder optimism declined for a second month in February as wet weather discouraged buyers and delayed projects, a private survey found.

The National Assn. of Home Builders/Wells Fargo measure of builder confidence fell to 68 from 70 in January and 71 in December, the highest since September 1999. Readings greater than 50 mean builders view market conditions as more positive than negative. The index exceeded 60 since May 2003.