The National Association of Home Builders/Wells Fargo Housing Market Index measures builder confidence in the market for newly built, single-family homes on a scale where any number below 50 indicates more builders view the market as poor than good. In September, the index dropped one point to 14. The index has been between 13 and 16 for six straight months. David Crowe, NAHB’s chief economist, said some bright spots are beginning to emerge in a select metro areas but, due to a weak economy and job market, the broader picture remains bleak. Regionally, only the Midwest saw gains in September, rising one point from August. More here.

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