U.S. HOMEBUILDER CONFIDENCE FALLS TO 11 MONTH LOW IN JULY

Key Points

  • U.S. homebuilder confidence fell in July to its lowest level since August 2020, driven by shortages in both supply and labor.
  • The NAHB Housing Market index declined to a reading of 80 this month from 81 in June.
  • Consensus among economists expected an increase to 82.
  • The index hit an all-time high of 90 in November 2020.
  • The HMI index gauging current sales conditions fell from 87 to 86, the index measuring traffic of perspective buyers dropped from 71 to 65, and the index for sales expectations in the next 6 months rose from 79 to 81.
  • The Right Facts will continue to monitor the housing market.
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