Lease Options: Index for New Home Market Sentiment Sinks to Lowest Level in More Than 16 Years

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James Gage

AP
New Home Sentiment Index Sinks
Tuesday July 17, 6:36 pm ET

AP Business Writer

Index for New Home Market Sentiment Sinks to Lowest Level in More Than 16 Years, Group Says

WASHINGTON (AP) -- A key measure of industry sentiment on the U.S. market for new homes fell to its lowest point in more than 16 years, a trade group said Tuesday, as builders struggled with rising inventories of unsold houses a

The National Association of Home Builders/Wells Fargo housing market index, which tracks builders' perceptions of current market conditions and expectations for home sales over the next six months, fell to 24 this month, the lowest reading since January 1991, the NAHB said.

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