Homebuilder sentiment index slips 1 point (AP)

By Markos Kaminis (Wall St. Greek): The title here highlights the truth, which is that the housing market remains pitiful.

NEW YORK (Reuters) - Homebu

NEW YORK (Reuters) - Homebuil

With the honey badger market continuing to be completely dislocated from absolutely every piece of underlying data (except for German hope and confidence reported earlier this morning), moments ago the NAHB housing market index printed at 46, on expectations of an increase from January's 47 to 48. This makes it the first drop in the index in 10 months, and the first drop to expectations since April 2012, which in turn sent the ES to fresh highs (don't ask).

The NAHB housing market index for February is out at 10 a.m. ET. Consensus is for homebuilder sentiment to rise to 48, from 47 the previous month.  After rising for eight straight months, the index held steady in January. Click here to refresh >

The National Association of Home Builders reports today that:

By Mark J. Perry: From the National Association of Home Builders today: Builder confidence in the market for newly built, single-family homes gained one point in June from a slightly revised level in the previous month to rest at 29 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). This is the highest level the index has attained since May of 2007 (see chart below).