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Published: Monday, 9/20/2010

Homebuilders' confidence stuck at 18-month low

ASSOCIATED PRESS

WASHINGTON — Homebuilders confidence in the housing market stayed this month at the lowest level in 18 months, and more worry that the traffic of potential buyers is falling.

The National Association of Home Builders says its monthly index of builders' sentiment in September was unchanged at 13. The index has now been at the lowest level since March 2009 for two straight months.

Readings below 50 indicate negative sentiment about the market. The last time the index was above 50 was in April 2006.

Builders say they saw foot traffic from prospective buyers, an indication of future sales, fall this month.

High unemployment, slow job growth, and tight credit have kept people from buying homes.



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