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04-15-08
Home builders discouraged by actual sales
By Ruth Mantell, MarketWatch
Last update: 3:52 p.m. EDT April 15, 2008
WASHINGTON (MarketWatch) ? U.S. home builders remain discouraged about their industry, but attitudes didn’t worsen in April, according to the monthly sentiment index released Tuesday by their trade group.
The National Association of Home Builders/Wells Fargo housing market index remained at 20 in April, matching analysts’ expectations and close to the record low of 18 reached in December. The April index shows that about one in five home builders has a positive view of the industry.
“While builders continue to report improvements in traffic through their model homes compared with late last year, this activity has not translated to actual sales,” said David Seiders, NAHB’s chief economist.
Sentiment among builders has been at or below 20 since September.
“With the traditional home buying season now well underway, we have not seen the bump in sales activity that we normally would this time of year,” said Sandy Dunn, NAHB president.
‘While hope springs eternal, there is little concrete evidence of a rebound in activity.’
? Mike Larson, Weiss Research.
The housing market is “still groping for a bottom,” said Mike Larson, a real estate analyst at Weiss Research.
“While hope springs eternal, there is little concrete evidence of a rebound in activity,” Larson said. “Tighter lending standards, a slumping economy, and worries over future price declines remain very real obstacles.”
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