Builder confidence in the market for newly built, single-family homes held unchanged in September from the previous month's low level of 13, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index (HMI), released today.
The National Association of Home Builders/Wells Fargo Housing Market Index was unchanged at 13, matching last month's level, which was the lowest since March 2009.
Economists polled by Reuters expected a rise to 14.
A reading above 50 indicates that more builders view sales conditions as good than poor. The index has not been above 50 since April 2006.
The NAHB survey showed the current sales conditions gauge for single-family home sales remained unchanged at 13 after August was revised a point lower, which was the lowest level since April 2009. The sales expectations measure for the next six months remained unchanged at 18.
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