September 20, 2010
Homebuilder Confidence In The Doldrums
By Matthew L. Brown
Homebuilder confidence remained at a low in September, according to the National Association of Homebuilders/Wells Fargo Housing Market Index.
The index registered a dismal score of 13 for the month, unchanged from August. The index's neutral mark is 50.
The association said homebuilders "haven't seen any reason for improved optimism," and that consumers are even more reluctant now to purchase a new home than they have been in previous months.
Consumers feel their hands are tied until the job market improves, and the large number of foreclosed properties on the market begin to sell, the association said.
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