With lending standards tightening, home sales remaining slow and speculative homes continuing to sit unsold, builders are worried.The latest Housing Market Index from the National Association of Home Builders and Wells Fargo dropped three points to 36 last month, largely reflecting builders concerns about how the national subprime meltdown might impact sales activity.Since a low in September, the index had risen steadily until this month. The index is based on a monthly survey gauging builder perceptions of single-family sales, sales expectations for the next six months and traffic from potential buyers. Any number over 50 indicates that builders view sales conditions as "good" not "poor." The association has been conducting the survey for 20 years.

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