Home builders' index creeps higher in September

The confidence of U.S. home builders improved marginally in September as the expiration of a tax subsidy for first-time buyers approached.

The housing-market index rose to 19 in September from 18 in August, the National Association of Home Builders reported Wednesday. It was the third straight increase in the gauge that measures whether builders think the market is good, fair or poor.

At 19, the index shows that about one in five builders thinks the market is good.

Two of the three components of the index improved in September. The current sales index rose two points to 18, while the buyer traffic index rose by one point to 17. The prospective sales index, however, fell by one point to 29.

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- Posted: 2009-09-16 12:23:58

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