Builder confidence in new homes stays flat in September

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Builder confidence in the market for newly built dwellings remained pessimistic in September, according to data released Monday, reflecting a housing slowdown that began this summer with the expiration of a popular federal tax credit in the spring.

‘In general, builders haven’t seen any reason for improved optimism in market conditions over the past month,’ said Bob Jones, chairman of the National Assn. of Home Builders, which produces the housing market index.

The measure remained unchanged from August at a level of 13. The index is based on a survey of builders. Any number more than 50 indicates that more builders view conditions as good than poor.

Builders were neither optimistic about sales conditions in September or expectations in the next six months, according to the index. The part of the index measuring traffic of potential buyers inched down a point to 9.

-- Alejandro Lazo