Home builder sentiment dips slightly in September

Marketwatch ^ | 9.19.11 | Steve Goldstein

[Free Vulcan]

WASHINGTON (MarketWatch) — Confidence in the market for newly built single-family homes dipped slightly in September to remain in very low territory, according to an index released Monday.

The National Association of Home Builders/Wells Fargo Housing Market Index fell by a point to 14, on a seasonally adjusted index where readings above 50 are considered good. The index, which correlates closely with single-family housing starts, has held between 13 and 16 for the last six months.

[Free Vulcan]

I think we're going to see another big downturn in the housing market the fall/winter. Pending home sales have dropped off and what little demand that's left has shifted to the rental market. It doesn't look like people are even trying to buy.

[MrEdd]

The US is ten years overbuilt.

We have tens of millions more houses - nice houses at that - than we have families to live in them.

The market has a long way left to fall.