Home Builders' Confidence Falls Again
The National Association of Home Builders just released its housing market index, which shows another record drop for the month of January. That is the association's lowest number since the gauge was created in 1985.
The index, which is a survey of home builders' confidence in the market, fell to 8 in January, a one-point decline from December. A rating higher than 50 indicates that the number of positive responses received from the builders outweighed the number of negative responses and anything below 50 is a pessimistic outlook. For the Northeast region, the index scored a 10, just behind the South. The West scored the lowest, with a 4.
January 21, 2009; 1:24 PM ET
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