Home Builders Remain Pessimistic About Conditions

Washington, DC, Jan. 20, 2010--Home builders are downbeat about their prospects this year, according to the National Association of Home Builders.

NAHB said its housing market index fell in January to the lowest level since last summer.

The reading of 15 is the second consecutive monthly decline and the lowest since June.

The index reflects a survey of 504 residential developers nationwide. Index readings below 50 indicate negative sentiment about the market.