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| Housing Market Index for March declined three points Builder confidence in the market for new single-family homes receded in March, largely on concerns about deepening problems in the subprime mortgage arena, according to the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). After rising fairly steadily since its recent low last September, the HMI declined three points from a downwardly revised 39 reading in February to 36 in March. Regionally, the HMI results were somewhat mixed. In the Midwest and West, the index gained one point to 28 and 36, respectively. In the Northeast, the HMI declined two points to 41, and in the South, it fell four points to 40. write your comments about the article :: © 2007 Construction News :: home page |