The outlook among U.S. homebuilders has been gloomy all year, and this month it became grimmer. An index that measures builders’ sentiment for their industry fell three points in June to 13, the National Association of Home Builders says. That’s the lowest level in nine months, and it’s just five points above the lowest reading on record, from January 2009. That’s when the housing market was feeling the brunt of the housing bust. Any reading below 50 indicates negative sentiment about the market. The index hasn’t been above that level since April 2006, the peak of the housing boom. An index that gauges sales expectations over the next six months dropped four points, to 15. That matched the lowest level on records dating back to 1985. Last year, the number of people who bought new homes hit its lowest level on record. The NAHB index suggests this year’s number will likely be low as well.
U.S. builders’ outlook dims amid weakening sales
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