NAHB index flatlines in September
The regional breakdown was mixed, with two declines, one gain, and one unchanged reading. The Northeast index slipped to 16 from 18 while the Midwest reading dipped to 12 from 15. The Southeast index ticked up to 14 from 12, while the West index held steady at 8.
The new home market remains stuck in the doldrums. That's the latest read from the NAHB. Current sales remain at depressed levels, while expectations about future sales aren't budging. Meanwhile, fewer shoppers are walking through showroom doors -- a sign that Americans by and large just aren't that excited about the prospect of buying a house. Houses are cheap. Mortgage rates are low. But the lousy labor market and a lack of confidence is keeping buyers on the sidelines.