Home builders' mood slightly less gloomy

U.S. home builders' mood brightened slightly in January, but they remain deeply pessimistic that the housing market will turn around any time soon.

The home builders' housing-market index rose to 19 in January from a downwardly revised 18 in December, which marked a record low for the 23-year-old survey, the National Association of Home Builders reported Wednesday.

It was the first increase in the index since February. At 19, the index shows that only about one in five builders believe the market is healthy. A year ago, the index was at 35.

Economists expected the index to fall to 18 in January.

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- Posted: 2008-01-17 09:45:37

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