Homebuilders' confidence stuck at 18-month low

Homebuilders' confidence in the housing market stayed this month at the lowest level in 18 months, and more worry that the traffic of potential buyers is falling.

The National Association of Home Builders said Monday that its monthly index of builders' sentiment was unchanged in September at 13. The index has now been at the lowest level since March 2009 for two straight months.

Readings below 50 indicate negative sentiment about the market. The last time the index was above 50 was in April 2006.

The index is broken into three separate readings. Foot traffic from prospective buyers, an indication of future sales, fell slightly. The index measuring expectations for the next six months was unchanged. Current sales conditions were also unchanged.

"Americans by and large just aren't that excited about the prospect of buying a house," wrote Mike Larson, real estate and interest rate analyst with Weiss Research. (more)