NAHB index drops 2 points
Builders generally remain confident in the single-family home market, according to the most recent survey from Wells Fargo and the National Association of Home Builders.
For June, the NAHB-Wells Fargo Housing Market Index dropped two points to 67 from a downward revision for May.
"Builder confidence levels have remained consistently sound this year, reflecting the ongoing gradual recovery of the housing market," said NAHB Chairman Granger MacDonald, a home builder and developer from Kerrville, Texas.
Robert Dietz, the association’s chief economist, said the numbers could be stronger.
"As the housing market strengthens and more buyers enter the market, builders continue to express their frustration over an ongoing shortage of skilled labor and buildable lots that is impeding stronger growth in the single-family sector," Dietz said.