After making a lackluster comeback last month and led by the South, home builders grew less confident this month. Hurting conditions are recent Trump administration tariffs on Canadian lumber.
A gauge for the current state of builder confidence, the Housing Market Index, was a seasonally adjusted 68 in June. An index in excess of 50 indicates that more builders view conditions as good than poor.
But while the index remains above 50, it was lower than 70 in May — when it was was up for the first time in five months. The HMI stands two points above the downwardly revised level in June 2017.
Source: Mortgage Daily