CNBC reports that home builder confidence hit 64 this month, down from 66 in May and 68 in June 2018.
“While demand for single-family homes remains sound, builders continue to report rising development and construction costs, with some additional concerns over trade issues,” said NAHB Chairman Greg Ugalde, a home builder and developer from Torrington, Conn.
All of the index’s three components fell slightly. Current sales conditions decreased one point to 71. Buyer traffic dropped one point to 48. Sales expectations over the next six months fell two points to 70.