For the second month in a row, confidence among the country’s home builders weakened. Leading the latest decline were builders in the South.

A barometer of U.S. single-family home builder confidence, the Housing Market Index, was 64 as of July 2017 — the lowest it’s been since November 2016.

Although an index above 50 means more builders see conditions as good than those who see them as poor, the index fell for the second consecutive month from a downwardly revised 66 in June.

Source: Mortgage Daily