Home builders' sentiment falls to 15-year low

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Submitted by highpacific on July 28, 2006 - 9:49pm

Home builders are really having it tough right now.

"The NAHB/Wells Fargo housing-market index fell 3 more points to 39 in July, the lowest since December 1991. A reading of 50 would mean sentiment is balanced equally among builders who think the market is good and those who think it's poor.

The index peaked at 72 in June 2005 and has fallen in 11 months since then. It's the fastest decline in the 21-year history of the index, which has had a fairly good record of predicting the number of new homes started."
http://housingzone.com/index.asp?layout=...

Also check out this one.

"Market shift: Now builders lure Realtors

Thousands of dollars in home-closing bonuses. Commissions more than three times last year’s rates. Deep discounts and even gas card promotions..."
http://housingzone.com/index.asp?layout=...

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