Important Index Moves Lower
[WASHINGTON (MarketWatch) -- Sentiment among U.S. homebuilders plunged in November to the lowest level seen in 30 months, the National Association of Home Builders said Wednesday.
The housing market index declined from 68 to 60 in November, indicating a weaker but still healthy market. The index peaked at 72 in June.
It was the biggest one-month drop since October 2001.
A reading over 50 indicates a plurality of builders say that market conditions are good.
All three components of the NAHB index fell in November: current sales of single family homes fell from 74 to 66, expected sales fell from 73 to 64 and buyers' traffic fell from 51 to 46.]
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The housing market index declined from 68 to 60 in November, indicating a weaker but still healthy market. The index peaked at 72 in June.
It was the biggest one-month drop since October 2001.
A reading over 50 indicates a plurality of builders say that market conditions are good.
All three components of the NAHB index fell in November: current sales of single family homes fell from 74 to 66, expected sales fell from 73 to 64 and buyers' traffic fell from 51 to 46.]
More...
posted by Little_Silvered at 6:25 PM
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