US home builder sentiment held steady in December but remained at a record low as deepening economic turmoil, a deteriorating job market, and a flow of foreclosed homes on to the market continued to hurt sales conditions, an industry group said on Monday.

The National Association of Home Builders said its preliminary NAHB/Wells Fargo Housing Market Index was 9 in December, unchanged from November when it reached its lowest level on record since its launch in January 1985.

Readings below 50 indicate more builders view market conditions as poor than favorable. The December index was in line with expectations based on a Reuters survey of economists.

Washington Post