![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhxgUO-idOktXVeLOvhUp-_WQXJfmBQ_EK-ucAKUtA3-w02zZ-nWVx13F1eQHAkzI8giv8hMyaPyxz2s2SMMEWqifo2jucw6R6YSCcCf2kz_YEFjxZ9qOAHmVoGaX7DVd9RQpPY/s400/muddy_waters.jpg)
It's important to recognize that currently each sentiment index shows notable year-over-year declines with each still sitting near the lowest levels seen in over 20 years, a testament to the significance of the latest pullback.
Further, the "buyer traffic" index is showing the weakest results pulling back some 47.06% since September of 2009 and sitting just 2 points above the lowest level ever recorded while assessments of future activity appear to be on a similar "wipe-out" trend.
The new home market will likely not resume any significant form of healthy function until the considerable overhang of inventory is cleared.