Housing Index Dips From Peak

The NAHB Housing Market Index fell three points to 69 in November after reaching its highest point in nearly four years in October, according to the National Association of Home Builders.In addition, the index gauging builder sentiment about the current single-family sales market fell one point, to 77, and the measure of expected sales over the next six months decreased three points, to 79. The reading for prospective homebuyer traffic fell six points, to 46, the NAHB said. "After the really solid sales activity of this summer and early fall, builders remain in very good spirits heading toward the holidays," said NAHB president Kent Conine, a home and apartment builder from Dallas. "However, we're seeing some slowdown in visitors to model homes." Anything above 50 in the index and its components, which are based on surveys of hundreds of builders, means homebuilders believe that the single-family housing market is doing well. The NAHB can be found online at http://www.nahb.com.