The NAHB/Wells Fargo Housing Market index held steady at 28, the group said in a statement, shy of economists' expectations for 30.
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Oh Well, It Could be Worse |
After stagnating in a tight range, the index has gained 14 points since September 2011, reinforcing optimism the housing market is finding a bottom. Even though most builders are in Neutral, at least it's better than being in Park.
Still, the index has a long way to go to the 50 mark that indicates more builders view market conditions as favorable than poor. The index has not been above 50 since April 2006.
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