The NAHB-Wells Fargo Housing Market Index remained at 13, matching the previous month’s low.
Builders of single-family homes
remain glum in their outlook for the U.S. market, according to a new survey.
The September National
Association of Home Builders-Wells Fargo
Housing Market Index remained at 13, matching the previous month’s low. A
number above 50 means builders have a positive outlook on the marketplace.
"In general, builders
haven't seen any reason for improved optimism in market conditions over the
past month," said association Chairman Bob Jones, a home builder from
Bloomfield Hills, Mich. "If anything, consumer uncertainty has increased,
and builders feel their hands are tied until potential home buyers feel more
secure about the job market and economy."
NAHB Chief Economist David
"The stall in the
nation's housing market continues," Crowe said. "Builders report that
the two leading obstacles to new-home sales right now are consumer reluctance
in the face of the poor job market and the large number of foreclosed
properties for sale. However, we do expect that moderate improvement in the job
market will help boost consumer confidence and improve conditions for new-home
sales in this year's final quarter."
NAHB: Builder confidence stays low
September 20, 2010