The National Association of Home Builders' monthly index
measuring builder sentiment was just released. The overall index dipped to 32 in December from 33 in November. The sub index measuring present sales was flat ... the index measuring the outlook for future sales rose 3 points ... and the index measuring prospective buyer traffic dropped 3 points.
The index's cycle low to date was 30 in September. These latest figures show more of the same -- we're floundering around near very low levels, with no discernible
progress lower OR higher.