A modest month-over-month decline in the confidence level of home builders was reported, though the sector is more optimistic than a year ago.

An indication of how U.S. home builders view the single-family housing market, the Housing Market Index, was calculated to be 67 as of June 2017.

The level of builder confidence retreated compared to the preceding month, when the index landed at a downwardly revised level of 69.

Source: Mortgage Daily