The National Association of Home Builders (NAHB) tells MHProNews builder sentiment slipped from 60 to 59 in July, although economists had predicted it would remain at 60, the highest number it has hit so far this year. All three components of the index—current and future sales expectations and buyer traffic—slipped.

“For the past six months, builder confidence has remained in a relatively narrow positive range that is consistent with the ongoing gradual housing recovery that is underway,” said NAHB chairman Ed Brady. “However, we are still hearing reports from our members of scattered softness in some markets, due largely to regulatory constraints and shortages of lots and labor.”

NAHB chief economist Robert Dietz said continuing low mortgages and expectation of increasing households indicates a slow, steady growth in the housing market. ##

(Photo credit:housingwire)

Article submitted by Matthew J Silver to Daily Business News-MHProNews.