U.S. Builder Confidence Falls in June
U.S. builder confidence for new single-family homes in June fell 2 points from May to 68 points on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). The HMI components gauging current sales conditions and sales expectations in the next six months both fell 1 point from May to 75 and 76, respectively. The component measuring buyer traffic was also down by 1 point from the month prior at 50 points.
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