Homebuilder Confidence in U.S. Unexpectedly Decreases

Confidence among U.S. homebuilders unexpectedly fell in October on mounting concern sales will retrench once government credits expire.

The National Association of Home Builders/Wells Fargo confidence index declined to 18 from a reading of 19 in September that was the highest in more than a year, the Washington-based association said today. Figures less than 50 mean most respondents view conditions as poor.

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- Posted: 2009-10-19 13:53:18

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