Noel has three decades of experience in the home construction industry. His company has created more than 1,000 custom homes in the New Orleans area, NAHB officials said.

Increasing home prices could not be offset by a quarter-point drop in mortgage interest rates, which caused the association’s Housing Opportunity Index to decline two points.

A large drop in multifamly projects was responsible for the decline, officials said.

NAHB chief economist Robert Dietz said the number of perspective buyers dropped slightly during the month.

However, for the year overall, the trend is positive, said NAHB Chairman Ed Brady, a home builder from Bloomington, Illinois.

Tuesday marks the first time the group had officially supported any candidates.

The small decline is not a reason for worry, said NAHB chief economist Robert Dietz.