Homebuilder Confidence Sags

Peter Coy

With their subprime customers getting frozen out of financing, can you blame homebuilders for getting a little more worried? The National Association of Home Builders reported today that the NAHB/Wells Fargo Housing Market Index fell 3 points this month, to 36. That's still above its bottom of 30 last September, but it represents a reversal of the recent trend toward greater optimism.

The index covers current sales, expectations of sales over the next six months, and the amount of traffic from prospective buyers.

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