Today, the National Association of Home Builders (NAHB) released their latest Housing Market Index (HMI) showing a notable pullback for all measures as home builders downwardly adjusted their outlook in the wake of the home "buyer" tax credit expiration.
It's important to recognize that although each sentiment index continues to show notable year-over-year increases, each still remains near the lowest levels seen in over 20 years.
The new home market will likely not resume any significant form of healthy function until the considerable overhang of inventory is cleared.
The Christian Science Monitor has assembled a diverse group of the best economy-related bloggers out there. Our guest bloggers are not employed or directed by the Monitor and the views expressed are the bloggers' own, as is responsibility for the content of their blogs. To contact us about a blogger, click here. To add or view a comment on a guest blog, please go to the blogger's own site by clicking on the link above.