Building not yet improving
WASHINGTON. Confidence among homebuilders in September unexpectedly held at the lowest level in more than a year, showing that the housing market remains depressed following the expiration of a government tax credit.
The National Association of Home Builders/Wells Fargo confidence index was unchanged at 13, matching the August reading as the lowest since March 2009. The gauge was projected to rise to 14, according to the median forecast of 50 economists surveyed by Bloomberg News.