U.S. Home Building Slows in April After Record March

New information released Monday shows a survey of confidence among American home builders fell in April but remains optimistic headed into later in the spring

The National Association of Home Builders said its housing-market index fell by three points to 68 in April. The index reached 71 in March, its strongest reading since June 2005.

Last month's results were the highest seen on the index in 12 years, as U.S. President Donald Trump has been viewed as rolling back regulations in the industry.

Media outlets surveyed economists, who expected home builder confidence for the month of April to hit 70.

The data shows all three of the index's components reported losses in April but are maintaining healthy levels. The components gauging current sales conditions fell three points to 74, while the index charting sales expectations over the next six months dropped three points to 75. Lastly, the component measuring buyer traffic fell one point to 52.