The National Association of Home Builders released their monthly analysis on Monday. Here are the key items:
- The housing market index fell by 1 point in October to 18 from a 19 registered in September.
- The October index of 18 is less than 1 point above its 6 month average of 17.2.
- The buyer traffic index fell dramatically to 14 in October from 17 in September.
- Homebuilder expectations over the next 6 months fell 2 points to 27 compared to a September index of 29.
While these numbers are above or modestly better than recent lows, it is apparent that our housing recovery will continue to be slow.
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