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Builder Confidence Solid in June Amidst Growing Economic Uncertainty
Builder confidence in the market for newly-built single-family homes fell two points to 64 in June, according to the latest NAHB/Wells Fargo Housing Market Index (HMI) released today. Sentiment levels have held at a solid range in the low- to mid-60s for the past five months. “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. “Despite lower mortgage rates, home prices remain somewhat high relative to incomes, which is particularly challenging for entry-level ... (full story)