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US builders see little to like in housing market

US builders see little to like in housing market

U.S. homebuilders are concerned that the struggling housing market won't recover in the near future.
The National Association of Home Builders says its index of industry sentiment for May was unchanged at 16. It has been at that level for six of the last seven months. Any reading below 50 indicates negative sentiment about the market. The index hasn't been above that level since April 2006.
Last year was the worst in more than a decade for sales of previously owned homes and the worst for new-home sales in nearly a half-century.
Fewer homes mean fewer jobs. Each new home built creates an average of three jobs for a year and generates about $90,000 in taxes, according to the builders' trade group.


Updated : 2021-02-28 22:02 GMT+08:00