Homebuilder Sentiment Continues To Slide
The Boston Herald reported September 18, 2007 that the National Association of Home Builders' index that tracks future expectations for home sales over the next six months fell for the seventh straight month.
The index fell two points to 20. That is the same reading as January 1991.
"Index readings higher than 50 indicate positive sentiment about the market. The seasonally adjusted index has been below 50 since May 2006, and has fallen every month since March."
An economist for the National Association of Home Builders believes the market will turn around in less than a year, and home sales should start trending up again by the middle of next year, with housing construction recovering by the third quarter of 2008.
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