Homebuilder Sentiment: Still Not Good
The National Association of Home Builders' housing market index stayed at record low levels in December.
For the second straight month, the index reading came at a 9. Readings over 50 indicate positive sentiment, so it doesn't take too much math to know that home builders are still deeply concerned about the housing market.
"The crisis continues,” NAHB Chairman Sandy Dunn said in a statement. “We have seen no improvement over the past month in terms of sales conditions for new homes. In fact, certain factors have gotten progressively worse, not the least of which is the job market, where massive layoffs are having a devastating effect on consumer confidence."
-- Michael S. Rosenwald
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