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April 15, 2014 AT 6:00 AM
U.S. homebuilders' confidence in the housing market rose modestly in April but remained at low levels for the third straight month, reflecting the impact of tight credit for home buyers and a shortage of workers and land. The National Association of Home Builders/Wells Fargo builder sentiment index, which measures confidence in the single-family home market, edged up to 47 in April from 46 in March. Readings below 50 mean builders view sales conditions as poor. Builders expect sales to improve over the spring and summer.