Modesto Bee (CA) (05/16/08); MacIntyre, John
The National Association of Home Builders reports that its housing market index for May produced a score of 19, which is the second-lowest reading since the group started the measure in 1985. The May number is just one point above the lowest result on record of 18 and one point below the readings of 20 from February through April. The approximately 400 U.S. home builders nationwide that participate in the survey continue to express deep concern about the current state of the residential property market. Any reading higher than 50 signifies that home builders have a positive view of market conditions.
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