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Thursday, May 15, 2014

Home Builder Sentiment Lowest in a Year

Home builder confidence dropped to 45 in May, the lowest level in a year, according to the National Association of Home Builders and Wells Fargo. The index has remained below 50 for 4 months, indicating general pessimism from home builders. The decline in sentiment signals the housing market is still modestly recovering.

Home builders are more optimistic about the future as job growth improves and home buyers feel more financially secure and return to the housing market.

Read the NAHB release.

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