Tags: December | Home | Builder | Sentiment | Remains | Weak

December Home Builder Sentiment Remains Weak

Wednesday, 15 Dec 2010 10:55 AM

U.S. home builder sentiment remained unchanged at historically low levels in December, fresh evidence the U.S. housing sector faces a tough road back to health, according to a survey released on Wednesday.

The National Association of Home Builders/Wells Fargo Housing Market Index remained at 16 in December, in line with expectations of economists polled by Reuters.

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 16, while the sales expectations measure for the next six months remained unchanged at 25. The index reflecting prospective buyer traffic fell a point to 11.

"The steady but low level of the HMI reflects the fact that builders and consumers have yet to see consistent signs that the economy is improving," said David Crowe, chief economist for the NAHB.

© 2017 Thomson/Reuters. All rights reserved.

 
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U.S. home builder sentiment remained unchanged at historically low levels in December, fresh evidence the U.S. housing sector faces a tough road back to health, according to a survey released on Wednesday. The National Association of Home Builders/Wells Fargo Housing...
December,Home,Builder,Sentiment,Remains,Weak
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2010-55-15
Wednesday, 15 Dec 2010 10:55 AM
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