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The September NAHB/Wells Fargo Housing Market Index held steady at 58, the same as the one-point downwardly revised August level. The three components moved in different directions. Current sales remained the same at 62; future expectations declined to 65 from 68 in August and traffic rose one point to 47 from an upwardly revised 46. National Association of Home Builders chief economist David Crowe embraces the nuances.
The index remained just shy of a majority of builders saying conditions were good rather than poor.