The National Association of Home Builders released it’s monthly builder confidence level reading.  It came in at 9. Yes, 9. That’s the lowest reading by far since the association began tracking this data in 1985.
Once all the builders start throwing in the towel, the bottom will be in.  While their confidence level shows capitulation, their actions do not. There is still too much new construction throughout the country including here in the Twin Cities.
Check out Calculated Risk for an excellent visual on the builders confidence levels.
