Tags: Home | Builder | Outlook | Worsens

Home Builder Outlook Worsens in September

Monday, 19 Sep 2011 10:46 AM

The outlook of U.S. homebuilders worsened in September, as foreclosures and anxious buyers hurt construction and sales activity.

The National Association of Home Builders says its index of builder sentiment in September fell to 14 from 15. Any reading below 50 indicates negative sentiment about the housing market. It hasn't reached 50 since April 2006, the peak of the housing boom.

Last year, the number of people who bought new homes fell to its lowest level dating back nearly a half-century. Sales this year haven't fared much better.

While new homes make up a small portion of sales, they have an outsize impact on the economy. The builders' trade group says each new home built creates an average of three jobs for a year and generates about $90,000 in taxes.

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The outlook of U.S. homebuilders worsened in September, as foreclosures and anxious buyers hurt construction and sales activity. The National Association of Home Builders says its index of builder sentiment in September fell to 14 from 15. Any reading below 50 indicates...
Home,Builder,Outlook,Worsens
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2011-46-19
Monday, 19 Sep 2011 10:46 AM
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