Builders: No signs of housing recovery

NEW YORK (CNNMoney.com) - Home builders' confidence fell once again in May and their view of the state of the battered market hit a record low.

The National Association of Home Builders/Wells Fargo monthly index fell to its second lowest reading on record, ahead of only last December's reading

Builders were asked for their view of the current market, the amount of buyers looking at homes and expectations for six months from now.  Only 6 percent of the builders surveyed believe the current market is good, while 69 percent view it as poor. Builders also reported a lower level of people looking to buy new homes.

–From CNNMoney.com's Paul LaMonica