"Home builders' business outlook plunged this month to the lowest level since record keeping began more than 20 years ago, reflecting worsening industry conditions as the housing slump, rising gas prices and sagging consumer confidence combine to undermine the sales of new homes.
The National Association of Home Builders/Wells Fargo housing market index fell in July to a record low of 16, down from 18 in June, the Washington trade group said Wednesday.
The index has been on a downward trajectory since May as the industry's fortunes have soured."
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Homebuilder sentiment index falls
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