No puddles doesn't mean no moisture. It usually means the moisture is somewhere you're not looking.
A musty smell without visible standing water is usually caused by elevated humidity condensing on cool surfaces (leading to hidden mold behind walls or under flooring), or by humid air moving up from an unsealed crawl space into the basement or the rest of the house. It doesn't require an active leak — basements and crawl spaces naturally run more humid than the rest of the home, and past a certain humidity level, mold and mildew can develop without any standing water ever being present.