U.S. Builder Confidence Falls in June
U.S. builder confidence for new single-family homes in June fell 2 points to 67 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI).
The HMI component gauging current sales conditions fell 2 points to 73, and the sales expectations in the next six months index also was down 2 points to 76. The component measuring buyer traffic dropped 2 points to 49.
Derived from a monthly NAHB survey, the HMI gauges builder perceptions of current single-family home sales and sales expectations for the next six months. Scores from each component are then used to calculate a seasonally adjusted index where any number over 50 indicates that more builders view conditions as good rather than poor. See NAHB