Builder confidence falls to record low
The National Association of Home Builders, which released its monthly housing market index yesterday while I was busy on assignment, said builder confidence in the single-family-home market "fell two more points to 18 in October, its lowest point since the series began in January of 1985":
“Builders in the field are reporting that, while their special sales incentives are attracting interest among consumers, many potential buyers are either holding out for even better deals or hesitating due to concerns about negative and confusing media reports on home values,” said NAHB President Brian Catalde.
Feel free to take a show of hands in the comments about whether your Wonk is negative, confusing or both.
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