Housing starts were down this month, though still considered to be in the positive
zone, according to a press release by the National Association of Home Builders
(NAHB). The current NAHB/Wells Fargo Housing Market Index (HMI) was released yesterday
and reflected some conservative numbers in the building industry, much of it attributed
to Hurricane Katrina.
"Many builders appear to be taking on a more cautious attitude because
of uncertainties in the economy and this post-Katrina environment, particularly
with regard to sales expectations in the near term," said Dave Wilson, NAHB
president and a custom homebuilder from Ketchum, Idaho.
The overall HMI for September is a 65 and marks the third consecutive month
of decline since June, during which the HMI was 72. The HMI has not been a 65
since July 2003.
For more information, click