Tags: home builder | sentiment | housing | economy

US Homebuilder Sentiment Slips in July

Image: US Homebuilder Sentiment Slips in July
In this May 16, 2012, photo, construction workers frame a new house in Chester, Va. U.S. builders started work on more single-family homes. (AP Photo/Steve Helber)

Monday, 18 Jul 2016 10:18 AM

U.S. homebuilders are feeling slightly less optimistic about their sales prospects this month, though their outlook for the new-home market remains positive overall.

The National Association of Home Builders/Wells Fargo builder sentiment index released Monday fell one point to 59.

Readings above 50 indicate more builders view sales conditions as good, rather than poor. The index had mostly held at 58 this year before rising to 60 last month.

Builders' view of current sales and traffic by prospective buyers slipped one point this month. Their outlook for sales over the next six months slid three points.

New home sales declined 6 percent in May to a seasonally adjusted annual rate of 551,000 homes. Still, sales are running ahead of last year's pace through the first five months of this year.

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Economy
U.S. homebuilders are feeling slightly less optimistic about their sales prospects this month, though their outlook for the new-home market remains positive overall.
home builder, sentiment, housing, economy
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2016-18-18
Monday, 18 Jul 2016 10:18 AM
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