Builder confidence in the market for newly built, single-family homes declined two points in July, falling to 14, 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 one point to 21 in July compared with June. The component gauging traffic of prospective buyers declined three points, falling to 10, according to the report. Regionally, the HMI results were mixed in July. The West, which includes California, posted a five-point decline, falling to 9, according to the report.
Source: National Association of Home Builders
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