US DATA: Oct NAHB/Wells Hsg Mkt Index +3 pts to 16 in its first
improvement in 5 mos, putting the index back at June’s level when tax
credits expired. All 3 components registered gains: current sales
conditions rose 3 pts to 16, sales expectations rose 5 pts to 23, and
traffic of prospective buyers rose 2 pts to 11. Confidence also gained
in all regions, led by the South and West, each with 4 pt gains. NAHB
says financing remains tough as mtg standards tightened and construction
credit is scarce.