Summary Box: Homebuilders glum despite small gains

AP News
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Posted: Oct 18, 2010 2:02 PM
Summary Box: Homebuilders glum despite small gains

GLUM MOOD: Builders are pessimistic about the housing market, seeing a little more foot traffic after the worst summer for home sales in a decade.

INDEX RISES: The National Association of Home Builders said Monday its monthly index of builders' sentiment rose in October to 16, the first increase in five months. The index had been at 13 for the past two months, the lowest level since March 2009.

THREE READINGS RISE: Expectations rose by five points, the outlook for sales conditions improved by three points and builders' view of foot traffic increased by two points.