WASHINGTON -- The National Association of Home Builders/Wells Fargo Housing Market Index (HMI) declined for an eighth consecutive month to a level of 30 in September, the lowest level the index has reached since February of 1991. The HMI fell in three out of four regions in September, with the largest decline being registered in the Northeast, where a six-point drop brought the HMI to 28. The HMI fell five points to 38 in the West and fell three points to 38 in the South. The HMI held steady at 16 in the Midwest. Read more.
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