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Reading of 15 returns HMI to January levels; buyer traffic worsens.
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HMI increases 2 points to a reading of 17.
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HMI remains at a reading of 17.
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Housing Market Index shows that builder confidence declined one point.
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But expiring federal home buyer tax credit, low appraisals, and the builder credit market threaten 'fragile' improvements in housing market.
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NAHB/Wells Fargo Index also shows more assurance about future sales and buyer traffic.
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NAHB says housing market and economy are “fragile.”
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The S&P/Case-Shiller Composite Index for 20 metro markets fell by 18.7% over the same month a year ago, exceeding economists’ forecasts.
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HMI rises two points to a reading of 16.

Home price index author sees more volatility ahead
Yale's Robert Shiller is planning to offer investors securities based on housing's risk.
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Builders’ expectations rise dramatically for single-family sales over the next six months.
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Pace remains more than 40% below sales activity one year ago.
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HMI remains at reading of 9.
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HMI rises one point to a reading of 9.
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The NAHB has launched a new barometer of the 55+ market.
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Census data shows builders responding to buyers’ economic concerns by starting smaller homes.
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Builder confidence remains at historically low level of 9.
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Builder confidence drops to lowest level ever recorded by index since 1985 inception.
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Financial crisis on Wall Street cited as key factor in October HMI.
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HMI increases to 18, two points above recent historic low.