Confidence in the market for newly built, single-family homes in September was unchanged from the previous month, according to the NAHB/Wells Fargo Housing Market Index (HMI). The HMI held steady at 13 in September. "In general, builders haven't seen any reason for improved optimism in market conditions over the past month," said NAHB Chairman Bob Jones. "If anything, consumer uncertainty has increased, and builders feel their hands are tied until potential home buyers feel more secure about the job market and economy." The HMI survey asks builders to gauge sales expectations of the next six months; any number over 50 indicates that more builders view conditions as good than poor.
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