Builder confidence in the market for newly built, single-family homes declined five points in June, falling to 17, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI). The component gauging home sales expectations for the next six months decreased four points to 23 in June compared with May. The component gauging traffic of prospective buyers declined two points, falling to 14, according to the report. Every region nationwide also posted losses, with the West, which includes California, posting a four-point loss.
Source: National Association of Home Builders
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