NAHB Housing Index Holds At 13 in September Trough

Builder confidence in the market for new single-family homes remained at its lowest level since March 2009, as the National Association of Home Builders’ monthly housing market index held steady at 13 in September, the NAHB said Monday.

Thomson Reuters’ poll of economists predicted a level of 14 for the gauge of builder sentiment, which has averaged 44 since January 2001.

“Builders haven’t seen any reason for improved optimism,” said NAHB chairman Bob Jones. “If anything, consumer uncertainty has increased, and builders feel their hands are tied.”

One of the three component indexes fell in September. The current single-family home sales index held at 13 and the sales expectations index for the next six months remained at 18. The traffic of prospective buyers index dipped to 9 from 10.

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