Homebuilder sentiment declined to 55, more than expected, in February, according to the latest data from the National Association of Homebuilders.

Expectations were for the reading to come in at 58, up slightly from last month's 57 reading. 

January's report was a slight retreat from December's 58 reading, though this is still near a 9-year high for the index. 

In a note to clients following Tuesday's report, Ian Shepherdson at Pantheon Macro said, "In one line: Winter strikes again ... No sign here that the reported surge in mortgage applications last month is boosting homebuilder activity, but the severe weather, especially in the mid-west, likely is hurting."

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