NAHB: Homebuilder confidence dropsNews added by ProWEB Media on August 16, 2010
Gary Linnell

ProWEB Media

Joined: December 27, 2005

For the third consecutive month, homebuilder confidence has declined -- in part due to purchasers snatching up cheap foreclosed properties.

In fact, the National Association of Home Builders says its monthly index of builders' sentiment dipped to 13 -- the lowest reading since March 2009.

This figure is especially significant considering that a reading below 50 indicates negative sentiment about the market. However, the index hasn't been above 50 since April 2006.
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